Tag: california earthquakes

California earthquake insurance in spotlight due to Northridge anniversary

G. Turner
Los Angeles California Earthquake Insurance

January 17 was the 23rd anniversary of the 6.7 magnitude quake that shook LA’s San Fernando Valley. California earthquake insurance is receiving attention once again as the anniversary of the Northridge quake took place on Tuesday. The California Earthquake Authority (CEA) released a notice to remind state residents that only 23 years ago, a 6.7 magnitude tremor caused massive damage to homes, workplaces, roads and freeways. On January 17, 1994, the San Fernando Valley region of L.A. was the center of millions of dollars in damage. If a similar quake…

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The cost of California earthquake insurance is lower than most think

Nordstrom
San Andreas Fault Line California earthquake insurance

The hope is to make the coverage more affordable so a larger number of homeowners will buy it. The leading barrier to the purchase of California earthquake insurance is its cost. It is an expensive form of additional coverage. Many homeowners feel it is simply out of their financial reach. CEO Glenn Pomeroy of the California Earthquake Authority says homeowners feel the premiums are too high. That said, Pomeroy also spoke to real estate agents in Santa Rosa this week and explained that his organization has new options. Homeowners frequently…

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Earthquake insurance recommendations issued to California homeowners

Julie Campbell
California Earthquake Insurance

Officials in the state feel that residents simply are not taking the threat of a quake seriously enough. State officials in California and earthquake insurance companies are working together to help to boost the sense of urgency among the residents, as the vast majority of homeowners do not have any kind of coverage against quake damage. The latest official estimate is that as much as 10 percent of Californian homes have quake insurance. The problem that seems to be holding people back from buying earthquake insurance for their homes is…

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Earthquake insurance is becoming more important in California

Logan B.
earthquake insurance companies

Homeowners may need to prepare for an earthquake with the right kind of insurance coverage The United States Geological Survey has released a report that warns that California may experience a major earthquake in the next 30 years. The report claims that an earthquake of a magnitude of 6.7 or higher is coming, but there is no telling exactly when in the next three decades the event will come. Those living in the state may need to prepare for the disaster, but most Californian homeowners are unaware that there is…

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Lack of earthquake insurance could cause problems for the Bay Area

Logan B.
San Andreas Fault Line California earthquake insurance

RMS report highlights dangers for the property insurance sector in the San Francisco region The San Francisco region may be struck by a powerful earthquake in the coming years, and the potential damage such a disaster could cause may not be covered by insurance. RMS, a risk management firm serving the insurance and reinsurance industries, has released a new report that highlights the impact that earthquakes may have on the insurance sector. In California, earthquake insurance is becoming increasingly rare, as consumers and businesses alike begin seeing this type of…

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