Earthquake Deductible Buy-down

Earthquake Deductible Buydown

Cansure’s Earthquake Deductible Buy-Down product is designed to be written as an extension to an existing Cansure policy, or as a stand-alone policy over any insurance policy. Today, the minimum earthquake deductible on an insurance policy can be as much as 20% of the policy limit. With this product, you can buy your deductible down to as low as 3%.

For example, if you had a $10MM building with a 20% Earthquake deductible, you would be responsible for payment of $2MM as your deductible. If you bought the deductible down to 5%, you would only be liable for $500,000 and the Buy-Down coverage would pay the difference of $1.5MM in the event of an Earthquake claim.

Coverage Features:

  • Buy down an earthquake deductible to as low as $2,500

  • Built in margin clause where the replacement cost of the building increases because of an appraisal (up to 10%)

  • Policy wording follows and references earthquake coverage provided by the overlying property policy, subject to policy terms and conditions

  • Available as an extension to your Cansure policy, or as a stand-alone policy

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