| "I want to thank your agency, and especially you for your professionalism. In the years we have been clients, all of our business has been not only straight forward and expedient, but pleasurable. We get all the information we need in an easy to understand way. Your suggestions are always welcome, and have created better protection for us. My wife and I thank you. " | ||
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| "I discovered Shepard Insurance about 5 years ago, while shopping around for competitive auto insurance policies. Not only were their prices enticing enough to encourage me to sign on with them, but their customer service has been what has kept me a loyal customer for five years. Since that auto policy, I've since purchased a home, and started a new business, both of which are also covered by Shepard. Luz and her team have been great, keeping in step with my every need." | ||
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This might be an unwelcome reminder, but we live in earthquake country. That fact has been hard to escape lately with the number of recent stories and articles discussing the odds of a major quake hitting Southern California, and how many communities sit atop active faults.
Most of our clients are well aware of the danger lurking beneath the earth, and it's why so many of them ask us whether they should insure their homes against earthquake damage.
Like most insurance, it's a matter of risk versus expense. Is it worth the risk to go without earthquake insurance to save the expense of paying for it?
For most of us, our house is not only our home and all that means to us, but it's also the single biggest investment of our lives. Is it worth protecting? We think so.
We don't buy insurance coverage just to protect us from likely occurrences. We buy it to guard against unlikely and financially devastating events. Take life insurance, for example. Most of us don't expect our families to need it. Not having coverage, however, could mean a financial nightmare for our families if the unlikely should happen and a breadwinner dies prematurely.
Only 15 to 20 percent of California homeowners carry earthquake insurance. That's a mistake. The Northridge earthquake cost more than $25 billion in 1994. The damages were so bad it forced several insurance carriers to pull out of California because of their losses. That should tell you something about how financially devastating a quake could be for you personally.
Like any insurance purchase decision, you need to shop carefully for the right earthquake policy because you have options. The California Earthquake Authority (CEA) offered by the state provides coverage for your dwelling but little else (minimal personal property coverage & living expenses while displaced). Also, there is some concern that if the losses were high enough, the CEA would run out of money to pay for claims. Other more viable options are GeoVera Insurance Company and Axis Reinsurance Company (through Arrowhead), which offer more comprehensive coverages than the CEA. GeoVera and Axis can also offer a 10 percent deductible in some instances.
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