WanderALot
Full time employment: Posting here.
- Joined
- Sep 10, 2004
- Messages
- 607
We currently use GeoVera for earthquake insurance here in SoCal. We recently got my renewal notice from them and they indicated that they are insuring the dwelling for $260,000. It seems to me that they are just taking the county assessed value of the properly (ie, land + house) and putting that number down. This being CA, the land is worth about 4 times as much as the house. In fact our homeowner's policy has the dwelling insured for about $130,000.
Seeing as how earthquake insurance has a large deductible (15% of insured value), this seems like a bad deal in every way. I'm planning on decreasing the dwelling coverage to the same level as the homeowner's policy. Anyone see a problem with this?
Also, anyone have any thoughts on CEA vs. GeoVera? It seems like CEA's coverage was not nearly as good as GeoVera.
Seeing as how earthquake insurance has a large deductible (15% of insured value), this seems like a bad deal in every way. I'm planning on decreasing the dwelling coverage to the same level as the homeowner's policy. Anyone see a problem with this?
Also, anyone have any thoughts on CEA vs. GeoVera? It seems like CEA's coverage was not nearly as good as GeoVera.