Both Caltrain and the Valley Transportation Authority have decided that their respective earthquake insurance policies were getting a little too hefty for their wallets. Therefore, both have terminated policies in order to trim costs, according to the Mercury News.
Having suffered minimal damage during recent quakes, but faced with doubled premiums, the two decided a change was necessary.
Caltrains’ annual premium was set to double this year, while VTA’s would have skyrocketed to more than 100 percent from last year.
Several other transportation agencies that are covered have indicated they do not plan at this time to terminate their policies.
Was this article valuable?
Here are more articles you may enjoy.
Florida AG Says His Office Investigating ‘Anti-Public Adjuster’ Endorsements in Policies 
Fisherman Killed by 12-Foot Alligator at Central Florida Lake 
Reuters: DXC in Advanced Talks to Sell Insurance Software Unit for $2.4 Billion 
Viewpoint: Beware These Commercial Auto Endorsements! 
