What is the percentage of homeowners that have earthquake insurance in the San Francisco Bay Area for rental..
June 1st, 2010
..property?
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You need to be more clear.
Are you asking how many homeowners have it or how many renters have it?
Either way…the stats show its pretty low.
Like around 25% or so.
Well, most of them that have mortgages, for sure! But the LANDLORD’S earthquake coverage won’t cover the tenant, or the tenant’s stuff.
You can check with the CA DOI or your local AAA agent, especially since they insure a large part of the bay area and are headquartered there.
The total take up rate through the CEA (California Earthquake Authority) is in the high teens for the SF area. However, some people by EQ from other places. So its probably closer to 20% of all property owners by EQ. I don’t think the amount that buy it for rental property would be much different.