Advertisement
 
YOU ARE HERE: LAT HomeCollectionsQuake Insurance
IN THE NEWS

Quake Insurance

FEATURED ARTICLES
CALIFORNIA | LOCAL
September 26, 1990
What's the difference between a property tax increase and mandatory homeowners' earthquake insurance (front page, Sept. 22)? Property taxes are deductible from income taxes and insurance premiums aren't. ELLEN STERN HARRIS Beverly Hills
ARTICLES BY DATE
BUSINESS
March 20, 2011 | Kathy M. Kristof, Personal Finance
Japan's massive earthquake has created a surge of interest in quake insurance in a place more than 5,000 miles away ? California. "Earthquakes are clearly on the top of people's minds," said Glenn Pomeroy, chief executive of the California Earthquake Authority, a nonprofit group designed to make quake coverage available to any Californian who wants it. "The images coming out of Japan are surreal, and the news just keeps getting worse and...
Advertisement
BUSINESS
March 20, 2011 | Kathy M. Kristof, Personal Finance
Japan's massive earthquake has created a surge of interest in quake insurance in a place more than 5,000 miles away ? California. "Earthquakes are clearly on the top of people's minds," said Glenn Pomeroy, chief executive of the California Earthquake Authority, a nonprofit group designed to make quake coverage available to any Californian who wants it. "The images coming out of Japan are surreal, and the news just keeps getting worse and...
OPINION
March 19, 2011
The earthquakes that devastated Christchurch, New Zealand, and northern Japan in quick succession have prompted many California homeowners to bolt their houses to the foundations and stock up on emergency supplies. But the ultimate in protection for their homes ? earthquake insurance ? remains unappealing to the vast majority of state residents. A new bill (S 637) sponsored by the state's two U.S. senators could help remedy that by slashing the cost of coverage. It may be hard for other lawmakers, whose constituents live far from the San Andreas fault, to see why the federal government should get involved.
BUSINESS
March 5, 2010 | David Lazarus
Yves Didier has been a strong believer in earthquake insurance since the 1994 Northridge quake, when his apartment building was severely damaged and some of his neighbors lost their lives. He didn't hesitate to pay as much as $2,500 a year for coverage after he purchased a three-bedroom house in Reseda in 1999. He said he's never missed a payment and (thankfully) never had to make a claim. So it came as a shock for Didier, 45, to recently be told by his insurer, GeoVera Insurance Co., that his annual premium would nearly triple to $7,100 and that his deductible would soar to more than $100,000.
CALIFORNIA | LOCAL
April 3, 1997 | BARRY STAVRO
CARe Inc., the nonprofit earthquake assistance volunteer group, will meet tonight to discuss the quake insurance policies offered by the new California Earthquake Authority. CARe will also offer advice to homeowners who had property damage from the 1994 Northridge earthquake and remain unhappy over how insurance companies handled their claims. George Kehrer, a founder of CARe, said some insurance companies, including State Farm, have been willing to reopen some Northridge quake claims.
CALIFORNIA | LOCAL
June 16, 1986 | HENRY CISNEROS, Henry Cisneros, the mayor of San Antonio, Tex., writes a syndicated column.
During a recent trip to earthquake-devastated Mexico City I found myself wondering how American cities would respond to a similar disaster. Would private insurance and government assistance be sufficient to help stricken U.S. cities rebuild businesses and neighborhoods? The answer is no. For example, the Federal Emergency Management Agency estimated two years ago that a repetition of the 1906 San Francisco earthquake would cause at least $40 billion in losses.
BUSINESS
July 1, 1989 | Carla Lazzareschi
QUESTION: Last month's temblors have us again--thinking about getting some earthquake insurance. But we're still not convinced that we really need it. Can you help us make up our minds by giving us an idea of what it will cost and what we will actually be getting? Our home is our single largest investment so we want to do the right thing. J. L. ANSWER: First, you should know that earthquake coverage for your house and its contents is not included in the standard homeowner's policy.
BUSINESS
March 5, 2010 | David Lazarus
Yves Didier has been a strong believer in earthquake insurance since the 1994 Northridge quake, when his apartment building was severely damaged and some of his neighbors lost their lives. He didn't hesitate to pay as much as $2,500 a year for coverage after he purchased a three-bedroom house in Reseda in 1999. He said he's never missed a payment and (thankfully) never had to make a claim. So it came as a shock for Didier, 45, to recently be told by his insurer, GeoVera Insurance Co., that his annual premium would nearly triple to $7,100 and that his deductible would soar to more than $100,000.
BUSINESS
April 29, 2007 | Kathy M. Kristof, Times Staff Writer
Few know the risk of living in earthquake country quite like Susan Hough. The 46-year-old seismologist heads the U.S. Geological Survey's Pasadena office, which monitors earthquakes statewide. She also has written a book about Charles Richter, who invented the scale for measuring the magnitude of quakes. She's lived through a few big ones too, including the 1992 Landers quake and the catastrophic 1994 Northridge quake.
BUSINESS
September 12, 2006 | Marc Lifsher, Times Staff Writer
Thousands of Californians with earthquake insurance are eligible for refunds of hundreds of dollars linked to lower rates, but few have been told how to get them. On July 1, the California Earthquake Authority cut rates an average of 22.1% for about 85% of its 753,000 policyholders around the state. But the agency did not mention that consumers are entitled to cash out the balance of their current policies with no penalty to take advantage of the better deals.
REAL ESTATE
July 2, 2006 | Gayle Pollard-Terry, Times Staff Writer
EARTHQUAKE insurance: Most California homeowners don't have it, but Bill Saake wouldn't think of going without it. After the 1994 Northridge quake damaged his Chatsworth house beyond repair, his Allstate policy paid to rebuild. But Allstate, like many other insurers, no longer offers earthquake insurance in California, so Saake pays around $1,700 a year for coverage on his four-bedroom, three-bathroom home from the California Earthquake Authority, a privately funded, state-run insurance pool.
BUSINESS
March 24, 2006 | From the Associated Press
When Charlie Bott got an offer in the mail recently for earthquake insurance, he stared long and hard at the bottom line. Then he threw it away. "It was way beyond anything you pay for house insurance. Not even in the same league," said Bott, a nuclear engineer with a baby on the way. Now, like millions of others, he's hoping the Big One doesn't strike -- or if it does, that the government will come to the rescue.
CALIFORNIA | LOCAL
April 30, 2002 | DAVID SAVAGE and KRISTINA SAUERWEIN, TIMES STAFF WRITERS
The U.S. Supreme Court on Monday turned away the insurance industry's challenge of a California law that gave thousands of property owners a second chance to claim damages from the 1994 Northridge earthquake. "Obviously, we're disappointed," said Fiona Hutton, a consultant with 21st Century Insurance Co., formerly known as 20th Century, which asked the high court to hear a case involving a Culver City homeowner. The court refused the request without comment.
CALIFORNIA | LOCAL
December 18, 2001 | VIRGINIA ELLIS, TIMES STAFF WRITER
The head of California's $7-billion earthquake insurance agency abruptly resigned Monday after a long, closed-door meeting of the agency's three-member governing board. David Knowles, a former Republican state assemblyman, stepped down as chief executive of the California Earthquake Authority, effective Jan. 16. Neither Knowles nor any board member gave a reason for the resignation. When reporters attempted to question him, Knowles fled down the hall.
CALIFORNIA | LOCAL
May 27, 2001 | CATHERINE SAILLANT, TIMES STAFF WRITER
In addition to facing pockets of high seismic risk, Ventura County has some of the costliest earthquake insurance rates in the state. Homeowners along the loamy edges of the Santa Clara River and the sediment-rich Oxnard Plain can expect to pay top rates because soil conditions there mean shaking will be hard during a major quake. Because of the greater danger in Oxnard, Santa Paula, Fillmore and Piru, rates in those areas are $4.48 per $1,000 of a home's value, much higher than the $2.
Los Angeles Times Articles
|