Plan Would Lower Some Quake Premiums

Earthquake insurance premiums would fall slightly for residents of Los Angeles and Orange counties but rise for homeowners in other Southland counties under a rate change plan under review by the California Earthquake Authority, which handles most of the state’s earthquake coverage. The authority’s board will vote on the plan Thursday. The rate changes would better reflect new scientific knowledge about earthquakes and new information about soils in various areas and would lower insurance costs overall. The rate cut, the third since the CEA was formed in 1996, would reduce the average premium in Los Angeles and parts of Orange County to $280 from $290.