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Quake Insurance

I received the notice and bill from the California Earthquake Authority for earthquake insurance on my home. I am absolutely livid and outraged about the insurance premium, $888. I am also scared that since I can’t afford this premium, I cannot get earthquake insurance.

My property coverage is $185,000 and the premium is $732. The CEA earthquake insurance, with a 15% deductible, costs more than my entire property and liability insurance. This is outrageous and unacceptable.

The CEA requires a 15% deductible, which means if I incur $30,000 damage from an earthquake, I will receive only $2,250, which after paying the $888 premium, leaves me a net of only $1,362. Again, this is outrageous and unacceptable.

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Gov. Wilson, please do something to get [Insurance Commissioner Chuck] Quackenbush and the CEA to review and rethink this serious problem. I can’t afford to pay $888 for this kind of insurance, and I don’t believe anybody should. My earthquake insurance premium, with 15% deductible, this past 12 months cost $227. Why must the state, through the CEA, require almost four times as much?

Please, Gov. Wilson, do something!

TOM PALLAD

Chatsworth

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