Professional Panel Discusses Earthquake Insurance coverage in San Francisco

The number of Californians with earthquake insurance coverage is over the rise, but nevertheless only one in ten residents is covered, according to insurance officials.
Now an expert panel is looking to alter people's perception of what it considers a critical piece of protection for the inevitable "big one particular."
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The panel met Thursday in San Francisco to discuss the insurance issue, as well as the latest earthquake investigate. The experts are using the California Earthquake Authority, established in 1994 after the magnitude-6.7 Northridge quake in Southern California that killed dozens of people and caused billions of bucks in damage.

The panel's seismic study aids show the place insurance is most wanted. And not too long ago, it says, the cost of earthquake insurance has dropped.
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Only about ten % of property owners inside the state presently are covered, along with the percentages are decrease in San Francisco and Los Angeles, the gurus stated.
"In our expertise, what we’ve heard from persons is they assume it won't transpire to them," Christopher Nance, from the California Earthquake Authority, stated. "They feel simply because their residence survived recent earthquakes that it'll survive the next one particular. They have a perception that earthquake insurance is pricey."
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State insurance coverage officials point out that house owners are not the sole ones who qualify for earthquake insurance. Renters can buy it as well.

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