The first search link above explains that the average home price in California is $379,000, which is 7.6% lower than the average sold price in California ($410,000). If you calculate that the actual replacement cost for an existing dwelling is about 80% of market value (in normal situations), then the average replacement cost for a typical California home would be $303,200. However, in a time of disaster and emergency, the cost of building materials and labor will escalate, pushing homebuilding costs well beyond normal levels.
The second search link above was intended to find news and #SocialCurrentSee regarding a public-private partnership in the state capital▶ The location, K Street in Sacramento is well occupied by the HQ offices of many state government agencies, including the California Earthquake Authority (CEA) at #801 Suite 1000▶ As is true of virtually all state government operations, the easiest way to learn details about CEA is to visit their WEBSITE▶ http://www.earthquakeauthority.com
Relatively new to the website is an earthquake insurance (EQI) estimating tool, and online calculator, that is due to help consumers determine EQI rates on their dwellings▶ Specifically, the CEA calculator is at this LINK▶ https://goo.gl/V1EMFV
Caveat▶ The calculator is only an estimating tool and homeowners are advised to work with licensed property insurance agents for the purchase of EQI▶ In fact, if you live in a common interest development (aka HOA), you are allowed only to purchase EQI for your personal effects and the interior space of your dwelling alone, unless you reside in a single-family home
▶ So speaking of condominium properties, the external property in a condo development may be insured with a CEA policy, but only if that policy is "master coverage" purchased and owned by the HOA▶ https://binged.it/2h6JYVF
This technicality is not easily or fully explained at the CEA site, hence the admonition to speak with a licensed property insurance agent before making any EQI purchase▶ A LIST of CEA participating insurers is found HERE▶ http://bit.ly/2gbb89g
- Following the unprecedented losses from the 1994 Northridge earthquake, many insurance companies either stopped or severely restricted selling new homeowners' insurance policies in California. The insurer response was largely due to state law that requires insurers to offer earthquake insurance when selling or renewing residential property insurance.
- In September 1996, legislation to create the CEA was approved by the
- The CEA uses its available capital (net position) to leverage approximately
- The CEA had 879,537 policyholders at December 31, 2015, most of whom
▶ Given the publicity on CEA, we know the 10-year-old partnership is striving hard to enlist new subscribers. Judging by the numbers to date, the task looms as a BIG endeavor.
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12,577,498 = occupied residential dwellings in California in 2010, archived by #Altacities for #SocialCurrentSee https://t.co/8kczLEuJru— Mike Foxworth (@ALTALOMAN) December 9, 2016
Circa 2006, we started here on
Blogger, then advanced to social media
Alarm★Worth® ▶ #SocialCurrentSee®
® by social media archivist ALTALOMAN® is a web moniker for content created and archived in the 'social current see' (SCS) for and about the subject of COMMON INTEREST DEVELOPMENTS, the residential communities of some 68 million people in the USA.
®, an acronym for "", is the web moniker for the neighborhood of sites, blogs and locations created and managed by in reference to our journals and blogging activity when Dee Dee and I were residents of Alta Loma, part of Rancho Cucamonga in Southern California. Of course, we have moved on but these ALTACITIES
The ONLY sites and
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SOCIAL CURRENT SEE ® for
Common Interest Developments
▶more than HOAs ▶POAs ▶CIDs
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