Recently we reported that the Bay Area is overdue for a major earthquake, which raised the question of earthquake coverage for floating homes.
According to Samantha Fazio of Hawser Marine Insurance, both the California Fair Plan (CAF) and Red Shield offer earthquake coverage as required for all California homeowners.
CAF’s earthquake coverages are offered through the California Earthquake Authority (CEA). Your homeowner’s insurance broker can initiate a formal earthquake quote on your behalf. The CEA website also offers lots of info and ways to prepare.
Samantha cautions that the CEA coverage is for all California homes with no specific provisions for floating homes. She told the Floating Times, “In the event of an earthquake there could likely be water damage for a floating home, and CAF specifically excludes water peril.” Some floating homes may qualify for flood coverage, but “when trying to write these previously with my flood carriers, I have never had a floating home qualify.”
However, Samantha reports, “Red Shield does cover water related claims (interior/fresh water as well as exterior water) in their policy.”