Earthquake Insurance


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Earthquake Insurance

An insurance policy protecting the policyholder in the event an earthquake damages or destroys his/her home or other property. In general, the insurance pays to repair or rebuild the property. Deductibles on earthquake insurance tend to be quite high compared to other types of insurance.
References in periodicals archive ?
A statewide average rate reduction of 10% on CEA-issued earthquake insurance policies was approved in the spring by state Insurance Commissioner Dave Jones, and takes effect Jan.
The requirement is in response to a growing number of questions about earthquake insurance.
Also, keep reading to learn more about protecting yourself financially with earthquake insurance.
Earthquake insurance in Japan is committed not only by private nonlife insurers But also by the Japanese government following devastating earthquakes such as the Hanshin-Awaji Earthquake in 1995 and the Great East Japan Earthquake in 2011.
Palomar Specialty Insurance Company, a specialty catastrophe insurer, is now certified to write residential and commercial insurance in 14 states and has earlier aimed on writing residential earthquake insurance, commercial earthquake insurance and difference in conditions (DIC) in earthquake-exposed states comprising California, Oregon and Washington.
Sales of earthquake insurance policies by five major Japanese property and casualty insurance companies increased some 18 percent since March last year, when the devastating earthquake occurred in northeastern Japan, data compiled by Kyodo News showed Thursday.
Earthquake insurance claims in 2011 and 2010 are the first and third most costly years on record.
But it wouldn't hurt to check on earthquake insurance and see how much it costs.
We will discuss ways to make our citizens more aware of the importance of joining the Pool by receiving Compulsory Earthquake Insurance Policies, Babacan said.
The report said a small percentage of property owners acquire earthquake insurance as a rider to regular property coverage.
Guillermo Franco, AIR senior engineer, said insured losses will be limited to the low penetration of earthquake insurance in the region.
Environmental tax (collected through water utility bills) Corporation Tax (in the case of a commercial transaction of a company) Earthquake insurance (a nationwide contribution rate is applied)
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