Residential Earthquake (CA)
Homeowners can select from a variety of deductible approaches all from a single insurance company. Clients can select the deductible basis as either a percentage of the dwelling limit, a percentage of each coverage or a percentage of the total insurable value. The available deductible options are 10% and 15%.
|Dwelling||Up to 3MM||None|
|Appurtenant Structures||10% of Dwelling||0% to 20% of Dwelling|
|Personal Property||50% of Dwelling||25% to 75% of Dwelling|
|Loss of Use||20% of Dwelling
(up to 25,000)
|20% of Dwelling
(up to 500,000)
|Limited Building Code Upgrade||10,000||None|
|Hardscape||Excluded||Up to 100,000|
|Deductible Approach||15% Deductible||10% Deductible|
|% of Dwelling
The deductible is applied against the dwelling limit. When the dwelling deductible is met, all coverages would then satisfy the deductible.
|% of Coverage
The deductible is applied separately to each coverage. The deductible for each coverage is independent of the other coverages.
|% of Total Insurable Value
The deductible is applied against the Total Insurable Value (TIV). When the TIV deductible is met, all coverages would then satisfy the deductible.