Allstate Insurance, which has stopped writing coverage for homeowners in many hurricane-vulnerable areas, said yesterday they will no longer cover earthquake damage wherever they are legally allowed to drop the coverage.
Some 352,000 policyholders nationwide will be affected by the decision not to renew the coverage, said spokesman Mike Trevino.
He said the company's decision will mean it gives up $60 million premium from the earthquake endorsement portion of its homeowners policies.
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