One question keeps coming up from condominium unit owners – if my association does not carry earthquake insurance, can I? While unit owners cannot purchase insurance on the structures since they are owned in common, they can purchase insurance for their personal property and to help pay for a special assessment imposed to pay for damage caused during an earthquake.

Recently, the California Earthquake Authority (www.earthquakeauthority.com) has made many significant changes to the earthquake policies available to California homeowners, including more limit and deductible options. Coverage is also available for interior property such as cabinets and equipment, personal property, and breakables. Loss of use coverage is available to pay for living expenses if you need to move out while repairs are being made after an earthquake.

You can also get loss assessment coverage, which would help you pay for special assessments imposed by the association specifically to pay for earthquake damage for residential structures within the community. Even if your association does have earthquake insurance, a special assessment may have to be passed in order to pay the deductible. Loss assessment coverage is available in amounts from $25,000 to $100,000, and deductible options are available as well.

Whether you own a condominium, single family home, mobile home, or even are renting, there is an earthquake policy available for you. With the recent changes by the California Earthquake Authority, you can customize your policy to meet your needs.

Terri Guest, CIRMS, CMCA is the Northern California Sales & Marketing Representative for Berg Insurance Agency and can be reached at Terri@berginsurance.com.