![]() Without Loss of Use earthquake coverage-which includes covering additional expenses of living elsewhere-you’d still be paying your mortgage plus temporary housing rent during the time repairs are underway.ĬEA earthquake insurance policies protect you against financially devastating shaking events.Ī: There are several ways to lower what you pay for earthquake insurance.Government disaster assistance, if available, only comes in the form of a small grant or capped loan, which may cover only a portion of your repair costs.Without residential earthquake insurance you will be responsible for all repair and/or rebuilding costs.Older homes built before 1980 on a raised foundation are especially vulnerable if they are not retrofitted. Earthquakes can cause extensive damage to the foundation, siding and roof of homes.There are nearly 16,000 known faults, and scientists continue to find new faults.Ĭonsider this likely scenario with a large earthquake: Most Californians live within only 30 miles of an active earthquake fault. Still, all of California is earthquake country. Live in the San Francisco Bay Area, Central Coast, Central Valley, Sierra Mountains or SoCal? Then you live in areas of greater earthquake risk. Replace the valuable contents of your home?Ĭompare those big-ticket expenses to an investment in earthquake insurance coverage-combined with the value of having peace of mind when the big one strikes.Ī.Cover the full costs of living elsewhere-while still paying your mortgage-during the time repairs are being made and.Afford to repair or replace your home without insurance.According to a Uniform California Earthquake Rupture Forecast study, there is more than a 99% chance of one or more magnitude 6.7 or greater earthquakes striking California.Īsk yourself: after a major earthquake, could you: Given the potential cost to repair shake damage, the cost of a CEA policy may be an easy expense to justify. Without earthquake insurance coverage in California, you will be responsible for 100 percent of the cost to repair your home, and replace your belongings after a damaging earthquake strikes. Californians must purchase a separate, companion earthquake insurance policy. ![]() ![]() Your basic homeowners policy does not cover earthquake damage. Earthquakes are a certainty in California.
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