Section 2143 - Earthquake InsuranceFirst loss (primary) earthquake insurance may be procured from non-admitted insurers. If at least one of the following elements is present, such insurance may be procured from such insurers without restriction as to rates:
(a) The deductible is at least 25 percent less than the following:(1) For dwellings of Class D (one to four dwellings) Construction (including farm dwellings) and the contents thereof. One-half of 1 percent of the value of the property insured or $250, whichever is the higher.
(2) For all other buildings of Class I to VI Construction (wood frame, stucco, steel frame or steel and re-enforced concrete) and the contents thereof One-half of 1 percent of the value of the property insured or $1,000, whichever is the higher
(3) For buildings of Classes VIIa and VIIb (ordinary brick building not re-enforced) Construction and the contents thereof 2 percent of the value of the property insured or $2,000, whichever is the higher
(4) For buildings of Classes VIIIa and VIIIb (hollow tile or hollow concrete block) Construction and the contents thereof 5 percent of the value of the property insured or $3,000, whichever is the higher.
(b) The average or co-insurance clause is not required, or if required, requires insurance in an amount equal to a percentage of the value of the following percent value of property insured which is less than the following percentages thereof: | (1) Construction Classes I to VI.......................... | ..........................3% |
| (2) Construction Classes VIIa and VIIb.......................... | ..........................6% |
| (3) Construction Classes VIIIa and VIIIb.......................... | ..........................9% |
(c) The policy covers two or more subjects of insurance and does not include a distribution clause.(d) The placement of the coverage is not contingent upon the placing of fire insurance covering the same property. If at least one of the above elements is not present, then the procuring of such insurance from nonadmitted insurers must be in conformity with the general rules and basic principles as set forth in this article.
Cal. Code Regs. Tit. 10, § 2143
1. Amendment filed 10-13-54; designated effective 11-15-54 (Register 54, No. 22). Note: Authority cited: Section 1763, Insurance Code.
1. Amendment filed 10-13-54; designated effective 11-15-54 (Register 54, No. 22).