c54102_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21177

Name of Fund: BlackRock California Insured Municipal Income Trust (BCK)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock California Insured Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2008

Date of reporting period: 03/01/2008 – 05/31/2008

Item 1 – Schedule of Investments

BlackRock California Insured Municipal Income Trust 
Schedule of Investments May 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets) 
     
 
 Par  
 
  
 
 
 Municipal Bonds 
 
 (000)
 
  
Value 
California - 137.9%    Benicia, California, Unified School District, GO, Series B, 5.45%, 
 
    
 
  
    8/01/23 (a)(b) 
$
6,500
 
$
3,050,320 
    California Educational Facilities Authority Revenue Bonds (Scripps 
 
    
 
  
    College), 5%, 8/01/31 (a) 
 
 2,385
 
 
 2,557,221 
    California State Department of Water Resources, Power Supply 
 
    
 
  
    Revenue Bonds, Series A, 5.25%, 5/01/12 (c) 
 
 6,500
 
 
 7,128,355 
    California State Public Works Board, Lease Revenue Bonds 
 
    
 
  
    (Department of General Services - Capitol East End Complex), 
 
    
 
  
    Series A, 5%, 12/01/27 (d) 
 
 5,000
 
 
 5,048,100 
    California State University, Systemwide Revenue Refunding 
 
    
 
  
    Bonds, Series A, 5%, 11/01/30 (d) 
 
 4,000
 
 
 4,058,240 
    California State, Various Purpose, GO, Refunding, 5%, 
 
    
 
  
    6/01/31 (d) 
 
 4,000
 
 
 4,039,760 
    California Statewide Communities Development Authority Revenue 
 
    
 
  
    Bonds (Adventist), Series B, 5%, 3/01/37 (e) 
 
 1,000
 
 
 998,410 
    California Statewide Communities Development Authority Revenue 
 
    
 
  
    Bonds (Sutter Health), Series D, 5.05%, 8/15/38 (f) 
 
 5,000
 
 
 5,059,300 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.907%, 8/01/30 (b)(g) 
 
 3,055
 
 
 856,255 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.915%, 8/01/31 (b)(g) 
 
 3,180
 
 
 839,711 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.919%, 8/01/32 (b)(g) 
 
 3,300
 
 
 820,974 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.924%, 8/01/33 (b)(g) 
 
 3,440
 
 
 805,958 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.894%, 8/01/34 (b)(g) 
 
 3,575
 
 
 797,582 
    Ceres, California, Unified School District, GO (Election of 2001), 
 
    
 
  
    Series B, 5.896%, 8/01/35 (b)(g) 
 
 3,275
 
 
 688,438 
    Glendale, California, Community College District, GO (Election of 
 
    
 
  
    2002), Series D, 5%, 11/01/31 (a) 
 
 2,500
 
 
 2,563,800 
    Hemet, California, Unified School District, GO, Series B, 5.125%, 
 
    
 
  
    8/01/37 (e) 
 
 2,140
 
 
 2,226,777 
    Kaweah Delta Health Care District, California, Revenue Refunding 
 
    
 
  
    Bonds, 6%, 8/01/12 (c) 
 
 2,600
 
 
 2,955,654 
    Los Angeles, California, Department of Water and Power, 
 
    
 
  
    Waterworks Revenue Bonds, Series A, 5%, 7/01/43 (g) 
 
 3,550
 
 
 3,575,382 
    Los Angeles, California, Department of Water and Power, 
 
    
 
  
    Waterworks Revenue Refunding Bonds, Series A, 5.125%, 
 
    
 
  
 
 
 7/01/41 (g) 
 
 5,000
 
 
 5,054,450 
Portfolio Abbreviations 
To simplify the listings of BlackRock California Insured Municipal Income Trust's portfolio holdings 
in the Schedule of Investments, we have abbreviated the names of many of the securities 
according to the list below. 
  COP    Certificates of Participation 
  GO    General Obligation Bonds 

1

BlackRock California Insured Municipal Income Trust 
Schedule of Investments May 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets) 
     
 
 Par  
 
  
 
 
 Municipal Bonds 
 
 (000)
 
 
Value 
    Los Angeles, California, Wastewater System Revenue Refunding 
 
    
 
  
    Bonds, Series A, 5%, 6/01/32 (g) 
$
6,025
 
$
6,096,818 
    Los Angeles, California, Wastewater System Revenue Refunding 
 
    
 
  
    Bonds, Sub-Series A, 5%, 6/01/27 (a) 
 
 5,000
 
 
 5,075,100 
    Murrieta Valley, California, Unified School District, Public 
 
    
 
  
    Financing Authority, Special Tax Revenue Bonds, Series A, 
 
    
 
  
    5.125%, 9/01/26 (e) 
 
 1,000
 
 
 1,044,020 
    Napa, California, Water Revenue Bonds, 5%, 5/01/35 (d) 
 
 3,000
 
 
 3,073,620 
    Palomar Pomerado Health Care District, California, GO (Election 
 
    
 
  
    of 2004), Series A, 5.125%, 8/01/37 (a) 
 
 1,850
 
 
 1,909,995 
    Placentia-Yorba Linda, California, Unified School District, COP, 
 
    
 
  
    5%, 10/01/30 (g) 
 
 1,715
 
 
 1,712,599 
    Rio, California, Elementary School District, GO, Refunding, 5%, 
 
    
 
  
    8/01/29 (d) 
 
 1,235
 
 
 1,277,151 
    Riverside, California, Unified School District, GO (Election of 
 
    
 
  
    2001), Series A, 5%, 2/01/27 (g) 
 
 5,000
 
 
 5,020,300 
    Sacramento, California, Area Flood Control Agency, Special 
 
    
 
  
    Assessment Refunding Bonds (Consolidated Capital Assessment 
 
    
 
  
    District), Series A, 5%, 10/01/32 (g) 
 
 2,125
 
 
 2,169,370 
    San Diego State University Foundation, California, Auxiliary 
 
    
 
  
    Organization Revenue Refunding Bonds, Series A, 5%, 3/01/37 (a) 
 
 2,800
 
 
 2,812,124 
    San Joaquin Hills, California, Transportation Corridor Agency, Toll 
 
    
 
  
    Road Revenue Refunding Bonds, Series A, 5.45%, 1/15/31 (a)(b) 
 
 20,000
 
 
 5,192,400 
    San Jose, California, Financing Authority, Lease Revenue Refunding 
 
    
 
  
    Bonds (Civic Center Project), Series B, 5%, 6/01/37 (d) 
 
 6,000
 
 
 6,069,360 
    Santa Rosa, California, Wastewater Revenue Refunding Bonds, 
 
    
 
  
    Series B, 5.46%, 9/01/27 (b)(d) 
 
 11,125
 
 
 4,086,546 
    Stockton, California, Unified School District, GO (Election of 
 
    
 
  
    2005), 5%, 8/01/31 (f) 
 
 3,000
 
 
 3,102,390 
    Tustin, California, Unified School District, Senior Lien Special Tax 
 
    
 
  
    Bonds (Community Facilities District Number 97-1), Series A, 5%, 
 
    
 
  
 
 
 9/01/38 (f) 
 
 3,000
 
 
 3,035,250 
    Total Municipal Bonds 
 
    
 
  
 
 
 (Cost - $103,102,191) - 137.9% 
 
  
 
 
 104,801,730 
    Municipal Bonds Transferred to Tender Option 
 
    
 
  
 
 
 Bond Trusts (h) 
 
  
 
 
  
California - 17.2%    Alameda County, California, JT Powers, Lease Revenue Refunding 
 
    
 
  
    Bonds, 5%, 12/01/34 (f) 
 
 1,200
 
 
 1,234,008 
    Desert, California, Community College District, GO, Series C, 5%, 
 
    
 
  
    8/01/37 (f) 
 
 2,000
 
 
 2,053,367 
    San Diego County, California, Water Authority, Water Revenue 
 
    
 
  
    Refunding Bonds, COP, Series A, 5%, 5/01/32 (a) 
 
 5,295
 
 
 5,383,316 
    San Diego County, California, Water Authority, Water Revenue 
 
    
 
  
 
 
 Refunding Bonds, COP, Series 2008 A, 5%, 5/01/33 (f) 
 
 4,250
 
 
 4,372,053 
    Total Municipal Bonds Transferred to Tender Option 
 
    
 
  
 
 
 Bond Trusts (Cost - $12,826,730) - 17.2% 
 
  
 
 
 13,042,744 

2

BlackRock California Insured Municipal Income Trust 
Schedule of Investments May 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets) 
  Short-Term Securities  Shares 
 
 
Value
 
  CMA California Municipal Money Fund, 1.24% (i)(j)  12,530,305 
 
$
12,530,305  
  Total Short-Term Securities     
 
    
  (Cost - $12,530,305) - 16.5%   
 
 
 12,530,305  
  Total Investments (Cost - $128,459,226*) - 171.6%     
 
 130,374,779  
  Other Assets Less Liabilities - 1.4%     
 
 1,072,079  
  Liability for Trust Certificates,     
 
    
        Including Interest Expense and Fees Payable - (11.8%)     
 
 (8,940,918 ) 
  Preferred Shares, at Redemption Value - (61.2%)     
 
 (46,519,790 ) 
  Net Assets Applicable to Common Shares - 100.0%     
$
75,986,150  

* The cost and unrealized appreciation (depreciation) of investments as of May 31, 2008, as computed for federal income tax purposes, were as follows:

  Aggregate cost 
$
119,681,937  
  Gross unrealized appreciation 
$
2,559,629  
  Gross unrealized depreciation 
(799,267 ) 
  Net unrealized appreciation 
$
1,760,362  

(a) 
MBIA Insured. 
(b) 
Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. 
(c) 
U.S. government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in 
full at the date indicated, typically at a premium to par. 
(d) 
AMBAC Insured. 
(e) 
Assured Guaranty Insured. 
(f) 
FSA Insured. 
(g) 
FGIC Insured. 
(h) 
Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired 
residual interest certificates. These securities serve as a collateral in a financing transaction. 
(i) 
Represents the current yield as of report date. 
(j) 
Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the 
Investment Company Act of 1940, were as follows: 
 
 
   
  
 
Affiliate  Net Activity 
 
Dividend Income 
CMA California Municipal Money Fund  11,086,847 
 
$
105,648 

3

Item 2 – Controls and Procedures

2(a) –  The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
 
2(b) –  There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
         
Item 3 – Exhibits
         
    Certifications – Attached hereto
         
    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
    BlackRock California Insured Municipal Income Trust
         
    By:  /s/ Donald C. Burke  
      Donald C. Burke
Chief Executive Officer of
BlackRock California Insured Municipal Income Trust		  
         
    Date: July 18, 2008
         
    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
         
    By:  /s/ Donald C. Burke  
      Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock California Insured Municipal Income Trust		  
         
    Date: July 18, 2008
         
    By:  /s/ Neal J. Andrews  
      Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock California Insured Municipal Income Trust		  
         
    Date: July 18, 2008