Is earthquake insurance in California worth it?
Is earthquake insurance in California worth it? It’s difficult to predict when an earthquake will occur, but if you live in one of the most at-risk states, it could be worth it to purchase earthquake insurance. The cost and deductibles might be high, but they won’t be more expensive than the out-of-pocket, cost of rebuilding your home.
How do I choose earthquake insurance?
- Your ZIP code.
- The age of your home.
- The number of stories in your house.
- Your home’s rebuilding cost.
- The soil type on your property.
- The building materials used in your home.
Is there earthquake insurance in California? The California Earthquake Authority (CEA) provides most earthquake insurance in California. CEA offers earthquake policies, for homeowners, mobilehome owners, condo unit owners and renters. You cannot buy earthquake insurance directly from CEA you buy it directly from insurance companies that are members of CEA.
What is the best deductible for earthquake insurance? TOP THINGS TO CONSIDER
The deductible for earthquake insurance is usually 10%–20% of the coverage limit. For example, if your home is insured for $200,000 a 10% deductible would be $20,000. Depending on the policy, there may be separate deductibles.