Most California homeowners lack earthquake coverage

Data from the Insurance Information Network of California has shown that less than 12 percent of homeowners within the state were protected by earthquake insurance in 2010, and that less than 10 percent of businesses had this protection. According to the California Earthquake Authority’s CEO, Glenn Pomeroy, the standard insurance coverage for homes and businesses will not provide protection against the damage resulting from a tremor. This organization is nonprofit and works to offer homeowners in California affordable earthquake insurance products. Pomeroy also stated that among homeowners without any form…

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Earthquakes are a major concern for most Californians, yet few have insurance to protect themselves

Hurricane season is here, bringing with it an outbreak of troublesome storms that have become the norm. Insurers along the East and Gulf Coast have been wringing their hands in anticipation of a major hurricane that could cost millions in damages. Californians, however, are not troubled by such happenings. Instead, the worry that occupies their minds is the threat of major earthquakes. Their worry seems to be justified, according to a report from the Field Research Corp., a full-service consumer marketing research firm that works with insurance companies, as relatively…

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