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Earthquake Insurance
Earthquake insurance is a form of property insurance that covers the holder of the policy for damages that are caused in the event of an earthquake. Southern California is no stranger to the risk it faces from earthquakes. It has been predicted that “California has more than a 99% chance of having a magnitude 6.7 or larger earthquake within the next 30 years” (Science Daily, April 15 2008). So, if you are a resident of SoCal, not having earthquake insurance means that you take on 100% of the risk on yourself! If you live in an area that is seismically active, have equity in your home and can’t think of shelling out the cost of rebuilding it on your own, having earthquake insurance makes financial sense.
Did you know that, contrary to popular belief, a typical residential insurance policy does not double up as an earthquake insurance policy too? In case of a disaster are you going to depend on government disaster relief programs that are very limited and may cover only a fraction of the rebuilding cost? What you need to get for yourself is an earthquake "mini-policy" which aims at protecting a policy holder's dwelling. It helps avoid catastrophic losses and at the same time the premiums are kept affordable for more consumers.
At Berg Insurance, we understand that questions related to insurance may not always be easy to answer. And that’s where we come in. Professionals with long standing experience in the field of insurance will help you understand all aspects of earthquake insurance and stay with you till you make the best choice for yourself. Feel free to get in touch with us at our toll free number 800-989-7990 and remember, whatever your queries, you can be assured that we will have the right answers for you.
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November 10th, CAI-OC Luncheon
11:00 am, Irvine Marriot
Who to look for? Michael Berg, Kimberly Lilley & Marianne Pick
November 12th, CAI-GLAC Casino Night
6:00 pm, Sportsmen's Lodge Studio City
Who to look for? - Kimberly Lilley
November 16th, CAI-GLAC Luncheon
11:30 am - Skirball Center Los Angeles
Who to look for? Kimberly Lilley
November 17th, CAI-GRIE Luncheon
11:00 am, DoubleTree Ontario
Who to look for? Marianne Pick
December 2nd, CAI-GLAC Holiday Happy Hour
4:00 pm, Bel Air Crest Country Club
Who to look for? Kimberly Lilley
December 6th, CAI-OC Holiday Toy Drive
5:30 pm, Andrei's Irvine
Who to look for? Michael Berg
December 8th, CAI-GRIE TOPS Breakfast
8:15 am, Riverside Convention Center
Who to look for? Kimberly Lilley & Marianne Pick
December 9th, CAI-SD Awards Luncheon
11:00 am, DoubleTree Mission Valley
Who to look for? Kimberly Lilley & Bridgette Tabor
December 14th, CAI-GLAC Luncheon
11:30 pm, Skirball Center Los Angeles
Who to look for? Kimberly Lilley
December 15th, CAI-OC Luncheon
11:00 am, Irvine Marriott
Who to look for? Michael Berg, Marianne Pick & Kimberly Lilley
BERG PHOTO GALLERY
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Common Interest Developments
There has been some discussion of revised Fannie Mae guidelines with respect to community associations. This discussion has brought confusion, and I hope to provide some clarity to the issue.
Fannie Mae presented Announcement 08-34 on December 16, 2008 titled “Project Eligibility Review Service and Changes to Condominium and Cooperative Project Policies.” Among the many items included in this Announcement are general policy changes regarding project eligibility requirements, and condominium association project insurance clarifications. More…
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