Following Eott Energy Corp. v. Storebrand Internat. Ins. Co. (1996) 45 Cal.App.4th 565, this decision holds that for purposes of determining the deductible and the limits of coverage, an “occurrence” is an event that causes loss, not the loss or the insurance claim. So, if the same cause results in two losses, there is only one occurrence, one deductible, one policy limit. Here, thieves broke into the insured’s warehouse and stole inventory from two different, heavily armored storage vaults about, assaulting the second only 40 minutes after ending the theft from the first. Summary judgment for the insurer, limiting coverage to a single limit was appropriate because the only plausible theory was that the same gang perpetrated both vault break-ins under a common plan of action, even if different gang members stole from different vaults.