The strict eligibility requirements imposed by insurance carriers for quality residential earthquake coverage in California can make it difficult for insurance agents to find appropriate coverage for their clients.
The Arrowhead residential earthquake insurance program delivers insurance products with broader coverages, higher limits and lower deductibles. The rates are competitive depending on the location of the risk and age of the dwelling.
In California, Zurich insures newer structures or homes that have been retrofitted and built on flat or gently sloping lots with slab or raised concrete foundations. Coverage is available for single family dwellings or condominiums. Any age for dwellings is acceptable provided older homes have proof of retrofitting. Condos must be built 1960 or newer.
Coverage limits for this program are as follows:
- Dwellings: $75,000 minimum to $5 million maximum (Except LA County; maximum is $3 million) dwelling replacement limit
- Condominiums: $25,000 minimum to $500,000 maximum contents limit
Access to Zurich’s California residential earthquake insurance coverage is through Arrowhead, our program administrator for this program.
DIC – Difference in conditions
Zurich also offers earthquake/difference in conditions (DIC) coverage, specifically for commercial businesses.
The target market are medium to large commercial accounts that are constructed by steel, wood frame, reinforced concert or joisted masonry.
Coverage is written on primary or excess layers. Minimum total insured value is $10 million general liability, and $20 million habitational.
Licensed commercial insurance agents can gain access to Zurich’s earthquake coverage through Arrowhead, our program administrator for this program.