We accept homes purchased through a foreclosure and vacant homes in 3 and 12 month terms.

Please contact Jimmy @ 925-945-8800 or e-mail jimmy@mvcins.com for more information. 
 

6/2/09

Direct Deposit is now available! Please click here to complete the form and send it to our office via fax or email. Please do not forget to include a void check with the form.

3/31/09

Attention all CALIFORNIA AGENTS!

All Geovera quotes quoted in California will expire TODAY.

Please resubmit for requote on the new Geovera quoting system.

3/17/08

New EQ Quote Request Form is available for Download. Please go to Producer Forms tab.

2/13/09-IMPORTANT PLEASE READ!

GeoVera Insurance Company is implementing changes to their California residential earthquake insurance program that may impact your policyholders.  They have been working with the California Department of Insurance to incorporate updated earthquake hazard information into their insurance program.  This hazard information includes proximity of fault lines, magnitude potential of faults as well as soil type throughout the state.  In addition, they are upgrading the home replacement cost calculation methodology used to determine an individual policy’s coverage limit.

The California Department of Insurance recently approved these changes which they are now implementing starting with April 1, 2009 policy effective dates.  So, in summary, the approved changes are concentrated in two areas:  the method Geovera uses to calculate the policy’s coverage limit and the rate which is applied to that coverage limit.
 
Updated Earthquake Hazard Information

It has been ten years since GeoVera has adjusted the rates they use to calculate individual policy premiums.  Earthquake science has advanced and they are now reflecting those advancements in the rates we charge individual locations.  In addition to proximity and magnitude of faults and soil type, construction characteristics of the home also influence the individual rate.  Key construction factors include year built, number of levels and foundation type among others.  The goal of implementing these changes is to charge the right rate for the individual location’s exposure.

Updated Valuation Methodology

Maintaining accurate replacement costs is critical in ensuring that your clients have enough coverage to rebuild in the event of a loss.  To help achieve this, GeoVera is implementing Marshall & Swift/Boeckh’s Residential Component Technology (RCT) valuation tool.  This tool is more customized as it is based on a home’s individual construction features.  To support the implementation of this tool, GeoVera has mailed home replacement cost surveys to all of our California residential earthquake customers over the past year.  If the survey was returned, this information was used to calculate the home’s replacement cost and rates.  If the survey was not returned, default information was used.  The goal of implementing this upgraded valuation tool is to allow you to offer your clients more accurate replacement cost estimates and proper insurance to value.

Policyholder Communication and Broker Resources

Every current GeoVera policyholder will receive a customized letter in their renewal that will communicate these changes and how they affect their limits and premium.  The letters will vary depending on premium increase or decrease, coverage limit increase or decrease, whether or not we received their survey and the type of product – Comprehensive or Standard.

To support renewal discussions with your GeoVera policyholders, we have created various tools to assist you.  Our public website, www.geovera.com, starting February 9th will have a section for policyholders that will include Frequently Asked Questions about their renewals, a sample survey and a link to Marshall & Swift/Boeckh’s website.  In addition, attached below is a link to a presentation that summarizes the changes we are making, including exciting upgrades to our online quoting process for new business.  We will communicate these new business quoting changes in a subsequent bulletin but you can take a sneak peak now.  This link also includes access to the various policyholder renewal letters and a sample survey.

http://new.quakebroker.com

Their overriding goal in implementing these changes is to ensure they will be able to pay their claims after an earthquake event.  They will achieve that goal by charging the right rate for an individual location’s exposure and offering your clients more accurate replacement cost estimates.  As an insurance professional, we know that you understand that properly managing a catastrophe book of business is critical in order to deliver on their promise to pay.  We appreciate your support in working with us towards that goal.

Renewals Effective 4/1/09 Only

Note:  They generate and mail renewals 60 days in advance of the effective date.  Due to these changes, renewals starting with an effective date of April 1, 2009 have been slightly delayed.  Your customers with early April renewal dates will begin receiving their renewals the week of February 9th.