Below is an LA Times article from 2013 that provides some hard facts concerning the liabilty the association and the board face if they decide not to buy earthquake insurance since Civil Code Section 1365 pretty much implies that responsible associations should aquire earthquake coverage to protect their homeowners.
When it comes to earthquake insurance, the argument I hear the most against buying it is that it is too expensive. And that an HOA would be better off not spending the money which would allow them to keep their monthly assessments lower.
Below is an LA Times article from 2013 that provides some hard facts concerning the liabilty the association and the board face if they decide not to buy earthquake insurance since Civil Code Section 1365 pretty much implies that responsible associations should aquire earthquake coverage to protect their homeowners.
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May 2022
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