The California Earthquake Authority recently achieved a milestone with the sale of the Authority’s 100,000th supplemental earthquake insurance policy. The supplemental coverage allows homeowners with basic CEA policies to reduce deductibles and increase their coverage for personal property and emergency living expenses.
The CEA started offering the expanded earthquake coverage in June of 1999 and since then has seen an increase in sales. The CEA presently insures some 825,000 California homes with its basic policy.
CEA CEO David Knowles commented that the Authority heard the market ask for lower deductibles and expanded coverage and they were able to respond with a good, affordable product.
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