Earthquake Insurance in California
The limits on earthquake insurance is the same Dwelling coverage of you homeowner’s insurance, the Deductibles and premiums to insure your house against an earthquake can vary greatly. Typically, is 15% of the total value of your home but you can also choose the deductible you want from 5% to 20%. Earthquakes are not cover under the peril of you homeowner’s insurance.
Earthquake insurance covers damages to your house, personal belongings, and additional living expenses. It is likely that you will need to live somewhere else while your place is being repaired or rebuilt.
Earthquake insurance does not cover the following: Fires caused by an earthquake. That’s covered under most homeowner’s insurance. Vehicle damage. Comprehensive auto insurance covers that. Floods. You’ll need separate flood insurance, even if the flood is the result of an earthquake. Sinkholes. Some states require insurers to offer sinkhole insurance , you can typically add it to your homeowner’s policy. Masonry, such as the brick, stone or rock used for your home’s veneer.
Earthquake insurance in California
Do you know exactly when the next earthquake is going to happen? You or no one else can predict when it will be. Science is still far away from predicting such a natural disaster; they might happen every now and then. The point is that we do not even know that they will cause property damage or we will feel a bit shaken. If it gets damaged, you might have to move out while it is under construction.
Earthquake insurance in California is what you need to have peace of mind. There are ways to reduce teh risk of damage through education, mitigation, and insurance.
The insurance might not replace everything you could have lost. But it covers part of your loss so you can have a place to live again.
Is earthquake insurance required in California?
The answer is no. There are about 16,000 earthquake faults in California. But you don’t have to buy earthquake insurance in California. The state law doesn’t require you to do so. But you can take a precautionary step and prevent a heavy loss after a possible earthquake.
You would better know that the basic homeowners and renters insurance do not support or cover earthquake damage.
According to Insider, California is the earthquake capital of the US. The Federal Emergency Management Agency (FEMA) indicates that only 13% of the houses in the state are under earthquake insurance. People are not ready for the damage and financial losses caused by an earthquake.
Whether you need earthquake insurance is up to different factors. But you can consider the below items when answering that questions:
- The distance between the active earthquake faults
- How are earthquakes frequent in your region?
- When was the last earthquake?
- The quality of your house
- How good is the architectural structure
How much is earthquake insurance in California?
The cost of earthquake insurance in California is up to various factors:
- How old is the house?
- home’s construction material
- Frequency of earthquakes in your region
- The distance from the nearest fault
The deductibles for earthquakes are up to the insurance policy. The insurance just for earthquakes is unavailable, and you need to purchase it in tandem with your homeowner’s insurance policy.
You might have heard that earthquake insurance in California is expensive. But you can reduce your costs through mitigation efforts. David Elist Insurance experts guide to have efficient insurance that is reasonably priced.
The average cost of earthquake insurance in California
The answer to this question is not definite and is up to various factors. You can contact David Elist Insurance and explain your conditions to know the average cost. But you should know that the below factors will determine the cost of earthquake insurance in California for your accommodation;
- Address
- the year your home was built,
- Your homeowner’s coverage,
- Your home type of roof and foundation
- Cost to rebuild the home
- Your deductible
In case your house is in an earthquake-prone area, you should expect to pay more and vice versa. Of course, older houses are prone to more serious damage in an earthquake. So it is inevitable that they cost more.
Our experts can guide you on the expense of your average cost. Just give us a call, and you will get every detail.
Do you need earthquake insurance in California?
The state law doesn’t mandate you to get earthquake insurance in California. It is a personal choice to get earthquake insurance coverage for your house.
You should know that California is the earthquake capital of the US.
According to USGS, the below list of states have the “strongest shaking potential”:
- California
- Washington
- Utah
- Tennessee
- Oregon
- South Carolina
- Nevada
- Arkansas
- Missouri
- Illinois
However, even if you are not residing in one of the above states, you should not undermine the risk of an earthquake. You would better be prepared for it.
Most people live 30 miles away from an active fault. So even if you are far away from the faults, your house could still damage a lot.
Cheap earthquake insurance in California
David Elist Insurance provides you with the Cheapest earthquake insurance in California. You don’t have to buy earthquake insurance in California, but you would better protect your house in the earthquake capital of the US.
Your insurance cost is up to different factors. You can go through the other sections to know every detail. But you also have the option to give us a call at 818-999-9737 right now and find out without having to read.
Is earthquake insurance worth it in California?
You could say yes. You are living in the US earthquake capital. The furthest active fault is only 30 miles away from you.
According to the third Uniform California Earthquake Rupture Forecast (UCERF3) report, there is a 99% chance that one or even more M6.7 or greater earthquakes will strike a palace in California. There is a 75% chance with Southern California for an M7.0 or greater earthquake. This is while Northern California is facing a 76% risk of one or more M7.0 or greater earthquakes.
The above date is not to scare you and create an apocalypse. But you would better be prepared for an earthquake. Peace of mind is what you can get by insurance.
Who sells earthquake insurance in California?
David Elist Insurance is one of the companies that sell earthquake insurance in California. We have provided the best insurance coverage to people in California with a wide range of insurance coverages.
We will help you to find friendly cost insurance for your house, auto, and earthquake support for your accommodation.
Knowledge is power with the product or service you want to get. You would better get as much information as possible to have the best insurance option. You can learn everything with David Elist Insurance and make the best decision.
How many people in California have earthquake insurance?
The statistics indicate that only 13% of people in California have insurance. Although California is the US earthquake capital, people are unaware of it.
According to the “earthquakeauthority website,” there are:
- 15.700 known faults in California.
- 500 active faults
Most people live within 30 miles of an active fault.
According to the third Uniform California Earthquake Rupture Forecast (UCERF3) report, there is a 99% chance that one or even more M6.7 or greater earthquakes will strike a palace in California. There is a 75% chance with Southern California for an M7.0 or greater earthquake. This is while Northern California is facing a 76% risk of one or more M7.0 or greater earthquakes.
What Earthquake Insurance Does Not Cover?
There are exclusions with earthquake insurance. They might not cover a few items. Your insurance might not cover the below ones but ask David Elist’s insurance about your coverage that it covers them or not;
Fire
If your insurance covers fire, then earthquake insurance doesn’t cover fire.
Land
Sinkholes from erosion or other hidden openings under your land might be under earthquake coverage. You might need to get additional coverage for them.
Vehicles
You need auto insurance for your vehicle. Check the top menu to learn out about our auto insurance.
Flood
Earthquake insurance often doesn’t cover floods or water outside the house. But ask our experts about the coverage and whether you want it or not.
Best Earthquake Insurance Near Me in Los Angeles, California
You are looking for earthquake insurance in Los Angeles, and David Elist is the best option that you can find. Our company has made a name in providing versatile and cost-friendly insurance options to our clients in Los Angeles.
If you don’t have much information or can’t make up your mind on earthquake insurance, give us a call at 818-999-9737. Our experts are always ready to answer all of your questions about rules and regulations on insurance packages and stat rules. They will guide you to get the best insurance by your options.
Do you want to visit us? 20508 Sherman Way Unit A, Winnetka is our address, and you can find the exact location from the Find us page from the top menu.
Frequently Asked Questions about earthquake insurance in California
Is it worth buying earthquake insurance in California?
You can say yes, as it is the earthquake capital of the US and one of the most at-risk states.
Do people have earthquake insurance in California?
About 13% of people have earthquake insurance, and they are not aware of the risks.
Where can I buy earthquake insurance in California?
David Elist insurance is the one company you can purchase earthquake insurance and any type you need.
