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(Courtesy
USGS)
Q: How do I decide whether or not to get
earthquake insurance?
A: You should consider the following factors when
deciding whether or not to get earthquake insurance:
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proximity to active earthquake faults |
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seismic history of the region (frequency of
earthquake time since last earthquake |
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building construction (type of building. and
foundation
architectural layout materials used) |
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quality of workmanship |
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extent to which earthquake resistance was
considered by the designer |
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local site conditions (type and condition of
soil)
slope of the land |
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fill material |
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geologic structure of the earth beneath |
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annual rainfall |
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value of the building and its contents |
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cost of the insurance and restrictions on
coverage (i.e. the deductible). |
California Earthquake Authority (CEA)
(Courtesy the
CEA)
The CEA
was formed to provide earthquake insurance to residential property
owners including homeowners, individual condominium unit owners, mobile
homeowners, and renters.
Your dwelling must be covered according to the CEA
policy guidelines; however, other structures such as outbuildings,
swimming pools, and masonry fences are specifically excluded (as is the
case with the majority of earthquake policies).
You cannot purchase earthquake coverage directly from
the CEA. The CEA does not offer stand-alone earthquake policies. Only
licensed California insurers who are CEA member companies can sell CEA
policies. You must have a residential property policy in-force or be
purchasing a new residential property policy from a CEA member insurer
in order to be offered a CEA policy.
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