Chubb Insurance has had a base earthquake rate reduction approved by the State of CA department of insurance. The statewide earthquake insurance base rate reduction is 15.46%. The rate reduction will vary by location, and some locations will see some rate increases. Chubb Insurance is also taking into account additional rating factors when setting the earthquake insurance rates.
New earthquake rating factors include:
· Year Built/Construction Type;
· Number of Stories (applicable to Condo/Coop/Renter);
· Distance to Fault;
· Modified Mercalli Intensity (MMI); and
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