However, reviewing the top 15, I think their portfolios are dissimilar, and may even be highly heterogeneous by geographic territory within each provider; e.g. CEA is 100% in CA, whereas EQ exposure exists in all 50 states.
A more insightful stat would be amounts of insurance by state and territory within state. Epicenters of EQs are a good indicator of potential exposure to insurers. So, the impact of EQs on the top 15 companies listed would likely vary, perhaps greatly.
Even more telling is the EQ deductibles they slip in on their policies. State Farm here in SC will put a 10% and even a 15% deductible, USAA will hit you with 10% as well. Customers don’t have a clue most of the time. Add to that, brick veneers not covered most of the time.
I am in the New Madrid earthquake zone. My personal coverage is with a national independent agency company.
Coverage A 600k. I carry a $2,500 ded with an EQ ded of 15% including brick veneer. Twenty-five plus years ago I had one carrier withdraw from writing EQ. We rolled that book to another carrier and they could not understand why we also rolled the personal auto book. I had one carrier put a limit on how much EQ we could write. We rolled their book of business. Thirty-five years ago all our EQ coverage had a 2% ded. Times change
The DPW stat is easy to obtain, and informative.
However, reviewing the top 15, I think their portfolios are dissimilar, and may even be highly heterogeneous by geographic territory within each provider; e.g. CEA is 100% in CA, whereas EQ exposure exists in all 50 states.
A more insightful stat would be amounts of insurance by state and territory within state. Epicenters of EQs are a good indicator of potential exposure to insurers. So, the impact of EQs on the top 15 companies listed would likely vary, perhaps greatly.
Polcar states: “I think their portfolios are dissimilar”
That is the beauty of the marketplace, different products for different people.
Even more telling is the EQ deductibles they slip in on their policies. State Farm here in SC will put a 10% and even a 15% deductible, USAA will hit you with 10% as well. Customers don’t have a clue most of the time. Add to that, brick veneers not covered most of the time.
And how would you do it differently if it was your capital on the line?
I am in the New Madrid earthquake zone. My personal coverage is with a national independent agency company.
Coverage A 600k. I carry a $2,500 ded with an EQ ded of 15% including brick veneer. Twenty-five plus years ago I had one carrier withdraw from writing EQ. We rolled that book to another carrier and they could not understand why we also rolled the personal auto book. I had one carrier put a limit on how much EQ we could write. We rolled their book of business. Thirty-five years ago all our EQ coverage had a 2% ded. Times change
Where can consumers find which companies actually pay out better than others?