Lawyers: Safety net needed in lieu of earthquake insurance

07/23/2013 | Los Angeles Times (tiered subscription model)

Homeowners associations in earthquake-susceptible areas aren't required to buy earthquake insurance, but they must have a plan in place for if damage occurs. Instead of buying insurance, the association should place money in an interest-bearing savings account to prepare for any future problems, lawyers Donie Vanitzian and Zachary Levine write.

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