- The maximum limits & values are now $5,000,000 (Limits greater than $3,000,000 in Alameda, San Mateo, & San Francisco Counties are on a submit basis).
- The Program accepts Frame Construction & All Other Construction buildings built 1950 or later.
- Tilt-Up & Reinforced Concrete Block Construction dates will remain 1974 or later.
- Older retrofitted buildings may be accepted on a submit basis with the proper documentation.
- New business will be effective on the day of receipt of the application and premium, unless a later date is requested.
- Program Administrator at CRC is happy to answer any questions at 415-912-3525.
- The Program underwriter, Evanston Insurance Company, is “A” (Excellent) rated from A.M. Best, and is an approved, non-admitted market.
Program Details For New & Renewal Business:
- Program limits $5,000,000 per location/per policy (submit basis for Alameda, San Mateo, San Francisco Counties)
- Age limitation for wood frame construction: 1950 and newer. Older buildings are considered on a submit-basis with proper retrofit documentation
- Age limitation for HCB & Tilt-Up Construction Class 1974, "All Other" construction class 1950 and newer
- Minimum valuation for buildings: $75 per square foot
Perils insured are earth movement, landslide, mudflow and earth sliding if directly caused by earthquake. Submitted on a self-rating application, the program features are:
- Policy limits to $5 Million for all coverage per location.
- Coverage available for Buildings, Contents, Rental Income and Business/Interruption/Expense. 15% of policy limit may be allocated to Building Ordinance coverage. Earthquake Sprinkler leakage on Buildings and Rental Income.
- Deductible Application- The deductible percentage (choice of 2 deductible options) times the Total Insurable Values per building per occurrence.
- Coinsurance – contents subject to 90% Coinsurance Percentage
- Replacement Cost Valuation
- All Wood Frame construction must be bolted to foundation and built in 1950 or later
- Hollow Concrete Block construction must be reinforced and built in 1974 or later
- Concrete Tilt-up built in 1974 or later, “All Other” 1950 or later
- Retrofitted buildings built prior to the age requirement may be considered on a submit basis with the proper documentation
- Buildings with Tuck-Under, Subterranean or Under-Building Parking must be classified, rated and meet the eligibility risk characteristics of HCB Construction Class if less than 6 stories, with the exception of building garages or stalls separated by shear walls, which will take the standard construction class rate.
- Commercial Properties and Habitational Structures with 2 units or more
- State Licensed Residential Care Facilities