RULE 35.3H - EARTHQUAKE COVERAGE (CO 04 54)
Applies
to: Premier - YES, Premier Plus - YES, Premier Select - YES,
Premier Condo - YES, Premier Renters - YES
The policy may be endorsed to apply to losses due to earthquake. This endorsement applies to all Section I - Property Coverages, except Coverage D - Loss of Use and the Other Coverages, that exceeds the earthquake deductible stated in this endorsement, for the same limits provided in the policy.
Effective April 15, 2020, Earthquake Coverage will not be available for 4-sided masonry homes built prior to 1950. Policies that currently have Earthquake Coverage for 4-sided masonry homes built prior to 1950 will have the coverage removed at their first renewal on or after April 15, 2020.
The base deductible is 20% and is applied separately to the limit of liability of Coverage A-Dwelling, Coverage B-Other Structures and Coverage C-Personal Property. Coverage C-Personal Property is limited to $10,000. The total deductible amount will not be less than the policy deductible. The deductible percentage may be increased for a premium credit.
The additional premium
is calculated as follows:
1) Determine the
appropriate Earthquake Zone from the Territories Section.
2) Select the
appropriate rate table as follows:
| A. Premier Policy |
Table
A
|
|
Increased
Coverage C portion
|
Table
D
|
| B. Premier Plus Policy |
Table
G
|
|
Increased
Coverage C portion
|
Table
D
|
| C. Premier Select Policy |
Table
A
|
|
Increased
Coverage C portion
|
Table
D
|
| D. Premier Condominium Owners Policy |
Table
C
|
| E. Premier Condominium Owners Policy | |
|
with
CO 17 31 Unit Owners - Coverage C
|
|
|
Special
Coverage Endorsement
|
Table
C
|
| F. Premier Renters Policy |
Table
B
|
| G. CO 04 40 Structures Rented to Others - | |
|
Residence
Premises Endorsement
|
Table
F
|
| CO 04 42 Permitted Incidental Occupancies | |
|
Residence Premises Endorsement |
Table
F
|
| CO 04 48 Other Structures - Increased | |
|
Limits
Endorsement
|
Table
F
|
3) Select the rate per $1,000 of coverage based on type of construction as follows:
If exterior masonry veneer is to be excluded on this endorsement, rate as Frame. If exterior masonry veneer is to be included on this endorsement, rate as Masonry.
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table A |
01
|
.92
|
1.12
|
|
02
|
1.65
|
2.13
|
|
|
03
|
.73
|
.82
|
|
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table B |
01
|
.66
|
.70
|
|
02
|
1.23
|
1.31
|
|
|
03
|
.48
|
.51
|
|
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table C |
01
|
.66
|
.70
|
|
02
|
1.23
|
1.31
|
|
|
03
|
.48
|
.51
|
|
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table D |
01
|
.66
|
.70
|
|
02
|
1.23
|
1.31
|
|
|
03
|
.48
|
.51
|
|
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table F |
01
|
.66
|
.70
|
|
02
|
1.23
|
1.31
|
|
|
03
|
.48
|
.51
|
|
|
EQ
Zone
|
Frame
|
Masonry
|
|
| Table G |
01
|
.92
|
1.12
|
|
02
|
1.65
|
2.13
|
|
|
03
|
.73
|
.82
|
|
4) Multiply the rate by each of the following:
A. Coverage A limits for Premier Homeowners, Premier Plus Homeowners and Premier Select Policies only.
B. Coverage C limits for Premier Condominium Owners and Renters Policies only.
C. The amount of insurance for increased limits for Coverage C for Premier Homeowners, Premier Plus Homeowners and Premier Select Policies only.
D. The amount of insurance for the CO 04 48 Other Structures endorsement.
E. The amount of insurance for any other building coverage options.
5) Add the results obtained in Steps 4A through 4E.
6) Multiply the result
obtained in Step 5 by the desired deductible factor as follows:
|
Factor
|
||
|
Deductible
% *
|
Frame
|
Masonry
|
|
20%
|
.65
|
.70
|
|
25%
|
.50
|
.60
|
* The minimum deductibles are as follows:
|
Zone
1
|
Zone
2
|
Zone
3
|
||
|
Premier
Renter & Premier Condo
|
||||
|
All
Construction Types
|
20%
|
20%
|
20%
|
|
|
Premier,
Premier Plus & Premier Select
|
||||
|
4-sided
Masonry Veneer (Excluded)
|
20%
|
20%
|
20%
|
|
|
4-sided
Masonry Veneer (Included)
|
20%
|
20%
|
20%
|
|
|
Masonry
(Built 1950 or after)
|
20%
|
20%
|
20%
|
|
| All Other Construction Types |
20%
|
20%
|
20%
|
Endorsement CO 04 54
Earthquake will be attached to the policy.
