How is my earthquake insurance
coverage limit calculated?
You provide us with the homeowners Coverage A amount.
We calculate the Replacement Cost Estimate based on your home’s features.
We compare your homeowners Coverage A amount against the Replacement Cost Estimate to help you determine the most accurate amount necessary to rebuild your home.
We add for demand surge.
We add the additional coverage options that you choose for Other Structures, Personal Property, and Loss of Use.
The result is your calculated earthquake insurance coverage limit.
Why do you ask for the “Coverage A” amount from my homeowners insurance policy?
During our quoting process, we use the Coverage A Dwelling limit on your homeowners insurance policy to begin to determine the most accurate replacement cost estimate for your home. Think of it as a starting point for your earthquake insurance policy limit.
What is Homeowners Coverage A?
The Coverage A limit on your homeowners insurance policy is the amount that your homeowners insurance carrier or agent has determined as an acceptable amount to rebuild your home in the event of a total loss. It is listed on the homeowners insurance policy as the coverage limit for the home, or the “Dwelling.”
What else can my earthquake insurance policy cover?
This coverage is for structures that aren’t attached to your home and not considered part of the dwelling. “Other Structures” may include a detached garage, storage sheds, greenhouses, and more.
Our earthquake products can also offer coverage for your personal property contained within your home. This may include items such as furniture, clothing, and appliances.
Loss of Use
You or your tenant may be displaced from your home after an earthquake. Loss of use or fair rental value coverage can help pay for additional living expenses for temporary housing and living expenses or the loss of rental income while your home is being rebuilt or repaired.
Your calculated earthquake insurance coverage limit.
You will need to compare the Earthquake Single Limit to the total of all of your homeowners split limits. If your earthquake dwelling limit (before adding demand surge) is lower than your homeowners limit, or if you choose to lower your homeowners limit or calculated earthquake insurance coverage limit, a careful analysis needs to be completed to verify that the Replacement Cost Estimate reflects the unique features of your home.