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    15 Best How much does earthquake insurance cost? Answers | California

    Homeowners frequently believe that earthquakes are covered by their standard homeowner’s insurance policy, but this is not the case. When it comes to earthquake insurance costs, this form of coverage can be obtained as an endorsement on an existing policy, but it is also frequently purchased as an independent policy.

    The Insurance Information Institute (III) points out that, despite Americans in 42 states being in danger of an earthquake and its consequences, not enough individuals get earthquake insurance. That’s why comparing earthquake insurance coverage and weighing the benefits and drawbacks makes sense, especially if you reside in a place where earthquakes are not only conceivable but also likely.

    According to FEMA, earthquakes are anticipated to inflict $6.1 billion in damage each year, with California responsible for around 61 percent of those losses. Earthquake insurance is the greatest financial protection against this danger, and we’ve broken down how much it costs in 255 major cities and 59 counties across California.

    Earthquake Insurance Rates by City in California

    A single-family home may cost anything from $2.50 to $5.50 per thousand dollars of coverage (or $1,248 to $2,744 per year for $500,000 of coverage) depending on where you reside. As you might imagine, the closer your home is near a fault line in California, the higher your premiums will be, reflecting the increased risk of earthquake damage and, as a result, the greater cost of protecting your assets. Damage from earthquakes is not covered by homes insurance in California, so if you want to be completely insured, you’ll need earthquake insurance.

    CityAverage coverage rateAverage annual cost for $500,000 of coverage
    Adelanto$3.40$1,684
    Alameda$5.50$2,744
    Alhambra$3.70$1,851
    Altadena$4.00$1,979
    Alturas$2.60 $1,298
    Anaheim - Brookhurst Center $3.70$1,852
    Anaheim - Federal $3.60 $1,812
    Antioch$3.60 $1,790
    Azusa$4.10 $2,071
    Bakersfield - Kern City $3.00 $1,519
    Bakersfield - Panama $3.20 $1,600
    Baldwin Park $4.10 $2,072
    Banning$4.00 $1,981
    Barstow$2.90 $1,458
    Bell$3.70 $1,870
    Bellflower$3.80 $1,886
    Berkeley$4.40 $2,198
    Big Bear Lake $3.50 $1,727
    Bishop$3.30 $1,638
    Buena Park $3.90 $1,951
    Burbank$4.10 $2,029
    Calexico$4.90 $2,428
    Camarillo$4.10 $2,062
    Campbell$4.30 $2,138
    Canoga Park $4.30 $2,161
    Canyon Country $3.90 $1,930
    Carlsbad$2.80 $1,385
    Carmichael$2.50 $1,251
    Carson$3.70 $1,826
    Cathedral City $4.10 $2,026
    Cerritos$3.80 $1,908
    Chatsworth$3.90 $1,955
    Chico$2.50 $1,248
    Chino$4.30 $2,154
    Chino Hills $3.60 $1,825
    Chula Vista $3.10 $1,528
    City$2.50 $1,251
    Clovis$2.50 $1,254
    Colton$4.60 $2,311
    Colusa$2.60 $1,286
    Compton$4.00 $1,977
    Concord$4.50 $2,272
    Corona$3.80 $1,882
    Costa Mesa $3.40 $1,703
    Crescent City $2.90 $1,467
    Culver City $3.70 $1,860
    Cupertino$4.00 $2,015
    Daly City $4.10 $2,029
    Davis$2.60 $1,275
    Del Mar $2.80 $1,403
    Delano$2.90 $1,441
    Desert Hot Springs $3.90 $1,971
    East Palo Alto $4.70 $2,355
    El Cajon $2.70 $1,349
    El Centro $5.10 $2,528
    El Segundo $3.60 $1,825
    Encinitas$2.80 $1,385
    Escondido$2.70 $1,349
    Eureka - Carson Park $3.90 $1,951
    Eureka - Pine Hill $4.00 $1,981
    Fair Oaks $2.50 $1,251
    Fairfield$3.60 $1,798
    Fallbrook$2.70 $1,360
    Folsom$2.50 $1,251
    Fontana$4.30 $2,142
    Fountain Valley $3.90 $1,946
    Fremont$5.30 $2,627
    Fresno$2.50 $1,254
    Fruitridge$2.50 $1,251
    Fullerton$3.70 $1,860
    Garden Grove $3.70 $1,850
    Gardena$3.60 $1,822
    Glendale $3.60 $1,807
    Glendora$4.20 $2,103
    Grass Valley $2.50 $1,268
    Greenhaven$2.50 $1,251
    Hanford$2.50 $1,251
    Hawthorne$3.60 $1,821
    Hayward$4.50 $2,268
    Hemet$4.30 $2,143
    Hesperia$3.50 $1,762
    Hollister$3.70 $1,874
    Hollywood-West $3.50 $1,748
    Huntington Beach $3.90 $1,937
    Huntington Park $3.70 $1,867
    Indio$4.70 $2,325
    Inglewood$3.60 $1,796
    Irvine$3.30 $1,673
    Jamestown$2.60 $1,303
    LA - Central $3.70 $1,870
    LA - East $3.60 $1,787
    LA - Echo Park & Silver Lake $3.50 $1,767
    LA - El Sereno $3.50 $1,772
    LA - Griffith $3.70 $1,833
    LA - Highland Park $3.60 $1,811
    LA - Mar Vista & Culver City $4.00 $1,989
    LA - Mid-City $3.70 $1,828
    LA - South Central $3.60 $1,787
    LA - Vermont $3.70 $1,826
    LA - Wagner $3.60 $1,791
    LA - West $4.00 $2,013
    LA - Westchester $3.60 $1,785
    LA - Wilshire & La Brea $3.80 $1,883
    La Habra $3.50 $1,747
    La Mesa $2.80 $1,421
    La Puente $4.10 $2,055
    Laguna Beach $3.00 $1,508
    Laguna Niguel $3.00 $1,513
    Lake Elsinore $3.40 $1,705
    Lake Forest $2.90 $1,446
    Lakeport$3.00 $1,480
    Lakeside$2.70 $1,349
    Lakewood$3.60 $1,804
    Lancaster$4.40 $2,180
    Lewiston$2.60 $1,298
    Lincoln$2.50 $1,248
    Livermore$3.60 $1,823
    Lompoc$3.00 $1,522
    Long Beach $4.00 $1,975
    Loyalton$2.70 $1,341
    Madera$2.50 $1,248
    Mammoth Lakes $3.00 $1,494
    Mariposa$2.60 $1,278
    Marysville$2.50 $1,275
    Mckinleyville$3.90 $1,926
    Merced$2.50 $1,251
    Merkleeville$2.80 $1,389
    Mill Valley $3.60 $1,822
    Mira Mesa $2.80 $1,383
    Mission Viejo $2.90 $1,446
    Modesto$2.50 $1,259
    Monrovia $4.10 $2,033
    Montebello$3.50 $1,768
    Monterey$3.00 $1,481
    Moreno Valley $4.00 $1,981
    Murrieta$3.40 $1,711
    Napa$3.20 $1,620
    National City $3.20 $1,596
    Newport Beach $3.40 $1,715
    Northridge - 91325 $4.60 $2,277
    Northridge - 91326 $4.00 $1,976
    Norwalk$3.90 $1,943
    Oakland - Piedmont $4.20 $2,098
    Oakland - San Leandro $4.30 $2,145
    Ocean Beach $3.20 $1,582
    Oceanside$2.80 $1,385
    Ontario$3.80 $1,920
    Orange$3.60 $1,775
    Orland$2.60 $1,278
    Oxnard - Northwest $4.10 $2,068
    Oxnard - South $4.50 $2,226
    Pacific Beach $3.30 $1,664
    Pacific Palisades $3.50 $1,730
    Pacifica$3.90 $1,964
    Pacoima$4.60 $2,317
    Palmdale$4.60 $2,287
    Palos Verdes $3.40 $1,719
    Panorama City $4.10 $2,066
    Park$3.60 $1,812
    Pasadena$3.90 $1,962
    Paso Robles $2.80 $1,416
    Perris$3.40 $1,687
    Petaluma$4.70 $2,329
    Pico Rivera $3.90 $1,933
    Pioneer$2.50 $1,275
    Placentia$3.70 $1,870
    Placerville$2.50 $1,275
    Pomona$4.30 $2,162
    Porterville$2.50 $1,254
    Poway$2.70 $1,349
    Quincy$2.60 $1,279
    Ramona$2.70 $1,353
    Rancho Bernardo $2.70 $1,349
    Rancho Cucamonga $4.40 $2,188
    Rancho Palos Verde $3.50 $1,729
    Red Bluff $2.50 $1,248
    Redding$2.50 $1,251
    Redland$4.60 $2,310
    Redondo Beach $3.60 $1,822
    Redwood City $4.20 $2,094
    Reedley$2.50 $1,254
    Reseda$4.20 $2,115
    Richmond$4.90 $2,457
    Ridgecrest$2.90 $1,458
    Riverside$3.40 $1,717
    Rosemead $3.70 $1,840
    Roseville$2.50 $1,248
    Running Springs $3.60 $1,815
    Sacramento$2.50 $1,251
    Salinas$3.90 $1,939
    San Bernardino $5.00 $2,477
    San Clemente $2.90 $1,462
    San Diego - 92105 $2.90 $1,461
    San Diego - 92154 $3.10 $1,555
    San Francisco - Glen Park $4.10 $2,069
    San Francisco - Mission $4.00 $2,010
    San Francisco - Nob Hill $4.40 $2,207
    San Francisco - Sunset District $4.30 $2,163
    San Jose $4.30 $2,152
    San Jose - Campbell $4.20 $2,109
    San Luis Obispo $2.90 $1,426
    San Marcos $2.70 $1,353
    San Mateo $4.30 $2,128
    San Pedro $3.50 $1,760
    San Rafael $4.10 $2,046
    Santa Ana - Centennial Park $3.70 $1,837
    Santa Ana - Logan Park $3.50 $1,746
    Santa Barbara - Downtown $3.40 $1,686
    Santa Barbara - El Sueno $3.50 $1,751
    Santa Clara $4.20 $2,119
    Santa Clarita $3.70 $1,858
    Santa Cruz $3.40 $1,707
    Santa Maria $3.10 $1,567
    Santa Monica $3.80 $1,886
    Santa Rosa $3.80 $1,887
    Seaside$3.10 $1,566
    Simi Valley $3.70 $1,842
    Sonora$2.60 $1,276
    South Gate $3.70 $1,867
    South Lake Tahoe $2.60 $1,281
    Spring Valley $2.80 $1,378
    Stanton$3.70 $1,874
    Stockton$2.50 $1,261
    Suisun City $3.70 $1,852
    Sunnyvale$4.40 $2,210
    Susanville$2.60 $1,314
    Sylmar$4.30 $2,152
    Temecula$3.60 $1,810
    Temple City $3.90 $1,930
    Thousand Oaks $3.40 $1,700
    Torrance$3.60 $1,776
    Tracy$2.60 $1,292
    Turlock$2.50 $1,259
    Tustin$3.60 $1,789
    Twentynine Palms $3.00 $1,479
    Ukiah$3.50 $1,735
    Union City $5.20 $2,613
    Upland$4.10 $2,063
    Vacaville$3.20 $1,594
    Vallejo$3.90 $1,972
    Valley Spring $2.50 $1,248
    Van Nuys $4.30 $2,170
    Victorville$3.50 $1,754
    Visalia$2.50 $1,248
    Walnut Creek $4.00 $2,002
    Wasco$3.00 $1,494
    Watsonville$4.50 $2,271
    West Covina $4.10 $2,060
    Westminster$3.80 $1,879
    Willits$3.40 $1,684
    Woodland$2.60 $1,278
    Woodland Hills $4.00 $2,019
    Yorba Linda $3.50 $1,765
    Yreka$2.50 $1,275
    Yucaipa$4.20 $2,103
    Total$3.50 $1,748

    Los Angelas

    Residents in the LA areas of Echo Park, Silver Lake, and El Sereno had lower earthquake insurance premiums. Mar Vista, Culver City, and West LA would generally have to pay higher prices for the same coverage. In general, the average cost per thousand dollars of coverage was $3.70 (or $2,960 per year for an $800,000 residential dwelling coverage), with prices ranging from $3.50 to $4 per thousand. Because of the San Andreas tectonic zone and hundreds of minor active faults, the county is expected to have a 75 percent risk of a 7.0+ earthquake in the next three decades.

    San Diego

    In San Diego, the cost of earthquake insurance ranges from $2.90 to $3.10 per thousand dollars of coverage. The yearly premium for $575,000 of coverage (the median house price in San Diego) is expected to be $1,725. The Rose Canyon, Elsinore, and San Jacinto fault lines run through the city, which has a 75 percent probability of seeing a magnitude 7.0+ earthquake in the next 30 years, according to the California Earthquake Authority (CEA). Although the likelihood of a big earthquake is comparable in Los Angeles and San Diego, earthquake insurance prices are significantly cheaper in Los Angeles.

    San Fransisco

    In San Francisco, earthquake insurance for a single-family home can cost anywhere from $4 to $4.40 per thousand dollars of coverage. The Mission is on the lower end of the scale, and Nob Hill inhabitants are on the higher end of the scale. Rates for coverage on a $1.6 million median single-family house may exceed $6,000 per year. The San Andreas and Hayward faults run across the broader Bay Area, and the United States is on the verge of a major earthquake. According to the United States Geological Survey, there is a 98 percent chance that an earthquake of magnitude 6.0 or greater will occur during the next 30 years.

    Earthquake Insurance Premiums by County in California

    CountyAverage coverage rateAverage annual cost for $500,000 coverage
    Alameda$4.60 $2,311
    Alpine $2.80 $1,389
    Amador$2.50 $1,275
    Butte$2.50 $1,248
    Calaveras$2.50 $1,248
    Colusa$2.60 $1,286
    Contra Costa $4.30 $2,127
    Del Norte $2.90 $1,467
    El Dorado $2.60 $1,278
    Fresno$2.50 $1,254
    Glenn$2.60 $1,278
    Humboldt$3.90 $1,952
    Imperial$5.00 $2,479
    Inyo$3.30 $1,638
    Kern$3.00 $1,503
    Kings$2.50 $1,251
    Lake $3.00 $1,480
    Lassen$2.60 $1,314
    Los Angeles $3.90 $1,926
    Madera$2.50 $1,248
    Marin$3.90 $1,932
    Mariposa$2.60 $1,278
    Mendocino$3.40 $1,710
    Merced$2.50 $1,251
    Modoc$2.60 $1,298
    Mono$3.00 $1,494
    Monterey$3.30 $1,662
    Nan$2.90 $1,426
    Napa$3.20 $1,620
    Nevada$2.50 $1,268
    Orange$3.50 $1,748
    Placer$2.50 $1,248
    Plumas$2.60 $1,279
    Riverside$3.80 $1,895
    Sacramento$2.50 $1,251
    San Benito $3.70 $1,874
    San Bernardino $3.90 $1,950
    San Diego $2.90 $1,426
    San Francisco $4.20 $2,112
    San Joaquin $2.50 $1,268
    San Luis Obispo $2.80 $1,416
    San Mateo $4.10 $2,054
    Santa Barbara $3.30 $1,632
    Santa Clara $4.30 $2,157
    Santa Cruz $4.00 $1,985
    Shasta$2.50 $1,251
    Sierra$2.70 $1,341
    Siskiyou$2.50 $1,275
    Solano$3.70 $1,831
    Sonoma$4.10 $2,035
    Stanislaus$2.50 $1,259
    Sutter$2.50 $1,251
    Tehama$2.50 $1,248
    Trinity $2.60 $1,298
    Tulare$2.50 $1,251
    Tuolumne$2.60 $1,290
    Ventura$4.00 $1,981
    Yolo$2.60 $1,277
    Yuba$2.50 $1,275

    If your city isn’t mentioned in the table above, our data source has averages by county. Calaveras, Tehama, Butte, Madera, and Placer counties were among the most affordable, with an average cost of $2.50 for $1,000 of coverage. At $5 per $1,000 of coverage, Imperial County has the highest average cost. The counties of Alameda and Santa Clara had the second and third highest premiums, respectively.

    How Much Does Earthquake Insurance Cost Differently Depending on the Insurer?

    For a single-family residence in California, the average earthquake insurance premium varied from $0.60 to $15 per thousand dollars of coverage. Annual rates for coverage limits of $500,000 are expected to range from $300 to nearly $7,000, demonstrating the necessity of comparing quotations. Starting with the cheapest, the graph below rates businesses based on their coverage cost per thousand dollars. The price you pay will depend on the features of your home, such as the foundation, the number of stories, and the year it was built. This graph also excludes insurance companies like Allstate, State Farm, and USAA, which use the California Earthquake Authority to determine premiums.

    earthquake insurance cost in california
    Source: ValuePenguin

    Privilege Underwriters Exchange, Cincinnati Insurance Co., and Chubb/Federal had the three lowest earthquake insurance premiums, with average rates ranging from $0.60 to $1 per $1,000 of coverage required. Aegis Security, American Modern, and Pacific Specialty, on the other hand, were the three firms with the highest rates. The prices given by these insurers were seven to fifteen times higher than the lowest rivals. The cost of these more expensive carriers was very stable, and it didn’t seem to matter whether a homeowner resided in a low-risk or high-risk region for earthquakes.

    Note: For illustration reasons, all charges are presented per thousand dollars of coverage. For a rough estimate of the rate, multiply the amount of coverage you want by a thousand and multiply by the anticipated rate. For example, if you require $800,000 in coverage, divide $800 by $1,000 to get $800, then multiply that by the study's average coverage cost of $3.50 to get an estimated yearly premium of $2,800. The precise quotation and premium you'll pay will vary depending on where your home is located and the type of home you have.

    Best Earthquake insurance providers in California

    Theinsuranceloan.com analyzed the top earthquake insurance companies to identify those with strong financials and a good reputation. We also examined earthquake insurance providers based on the types of coverage they provide, whether they can be added to an existing homes policy and the associated advantages that customers may expect. Here’s what we discovered.

    Best Overall: Allstate

    Pros

    • Earthquake insurance coverage is offered in select locations around the country, including California,
    • has received top ratings from the Better Business Bureau and AM Best for financial soundness.
    • mobile application

    Cons

    • To obtain a quote, you must talk with a agent.


    Best for California: Amica

    Amika Auto home life Insurance USA

    Pros

    • Amica collaborates with the CEA to provide coverage to citizens in California.
    • You can choose to bundle earthquake insurance with other Amica products, such as homes or vehicle insurance.
    • Excellent financial strength and customer service ratings
    • There is an online claims centre available.

    Cons

    • To receive an earthquake insurance quotation through the CEA, you must talk with an Amica representative.

    Best Commercial Coverage: ICW Group

    icw group insurance company
    ICW Group of Insurance companies

    Pros

    • Commercial earthquake insurance for buildings and business property is available.
    • Assists in recouping revenue lost as a result of earthquake damage and subsequent repairs.
    • Financial strength is given high marks.

    Cons

    • To receive a tailored quotation for your company, you must talk with a local representative.

    Best for Bundling Policies: American Family Insurance

    American Family Insurance.

    Pros

    • Bundling all of your insurance plans in one location can help you save money.
    • Additional insurance reductions are available.
    • In addition to single-family houses, earthquake insurance for condominiums is offered.

    Cons

    • To obtain a quotation, you must speak with an agent directly.
    • The Better Business Bureau does not accredit this company.

    Best for Renters: Liberty Mutual

    Liberty Mutual Insurance

    Pros

    • A free quotation is available online.
    • If you reside in an earthquake-prone location, you may add earthquake coverage to your existing renters insurance policy.
    • It’s possible to file a claim online.

    Cons

    • To check if coverage is available in your region, you must apply.

    Best Online Experience: GeoVera Insurance

    GeoVera Insurance

    Pros

    • Online quotations are simple to obtain.
    • You can submit claims over the internet.
    • GeoVera provides earthquake insurance plans that may be purchased independently from your homes insurance.

    Cons

    • California, Oregon, and Washington are the only states where coverage is offered.
    • This coverage cannot be combined with a standard homes insurance policy.

    Best Customer Service: Country Financial

    Country Financial Insurance

    Pros

    • Good customer support and financial stability ratings
    • An existing homes insurance policy can be supplemented with earthquake coverage.

    Cons

    • To receive a quotation that includes earthquake insurance, you’ll need to consult with an agent.
    • Condominiums and renter’s insurance plans are not covered by earthquake insurance.

    Faqs

    Fault lines: do you need earthquake insurance?

    The cost of earthquake insurance varies from state to state. The amount you pay is affected by factors such as the value of your house, the materials used in its construction, and its closeness to a fault line. According to Schirmers, the typical cost of coverage in most states is between $100 and $300 per year. Premiums in California, Oregon, Washington, and Alaska are often higher, with an average cost of approximately $800. The California Earthquake Authority and Governor’s Office of Emergency Services, on the other hand, provide a discount program for insurance on braced and bolted-to-the-foundation homes. A grant is also available.

    Earthquake insurance cost: everything you need to know in 2021?

    The cost of earthquake insurance varies depending on where you live and which insurance provider you choose. The average cost of earthquake insurance premiums is determined by a variety of factors, including:

    • The home’s closeness to a fault line
    • The cost of constructing a new home
    • The building materials that were utilized to create the house
    • The policy’s conditions

    Premiums are higher in areas where earthquake activity is increasing. Most states, for example, charge between $100 and $300 per year on average for insurance. The average cost of a policy in a state with a higher earthquake risk is $800.

    Earthquake insurance for homeowners

    Home constructions can be severely damaged by earthquakes. Even relatively few earthquakes can cause damage to home foundations and collapse walls, and even relatively minor tremors can ruin furniture and valuables.

    Earthquake damage is not covered by homeowner’s or renter’s insurance. Basic insurance, on the other hand, would often cover damages from fires that occur as a result of a quake, as well as additional living expenses spent while your house is being repaired.

    Earthquake damage is covered under the optional comprehensive portion of an uninsured motorist coverage for vehicles.

    Most private insurers offer earthquake coverage in the form of a separate policy or an endorsement.

    What does Earthquake insurance commonly cover?

    Earthquake insurance pays for repairs to your home caused by earthquake damage such as shaking and cracking, as well as other structures not linked to your home, such as a garage. It protects your personal property against earthquake damage. It might help pay for the additional expenses of stabilizing the soil beneath your house. The expense of debris removal is covered by earthquake insurance. It also covers any extra living expenditures you may incur while your house is being renovated or restored.

    Should you buy earthquake insurance?

    While earthquakes cannot be predicted, they can be prepared for, and that can make all the difference. If something occurs to your house, condo, or a rental unit, American Family’s earthquake coverage can assist pay your expenses. Because earthquake damage isn’t usually covered by conventional homes, condos, or renters insurance, it’s important to acquire coverage even if you don’t live in California or Hawaii.

    Recently, earthquake activity has increased in certain earthquake-free areas of the United States. According to the National Earthquake Information Center, the United States suffers between 12,000 and 14,000 earthquakes every year, with the majority of them being small. Insurance against earthquakes

    What is covered under earthquake insurance?

    Earthquake coverage compensates for damage to homes and other structures caused by shaking and cracking. Other insurance policies may cover damage caused indirectly by earthquakes. Even if triggered by a quake, fire and flood damage caused by ruptured gas and water lines are usually covered by the basic component of a home’s policy. The comprehensive part of auto insurance coverage covers earthquake damage to vehicles.

    Conclusion

    I hope you got a decision about purchasing earthquake insurance, If you get the earthquake insurance cost for your place then lemme know in the comment section which company you gonna choose and why?.

    Thank you so much for visiting and check here if you want more information.

    Have a great time.

    Xoxo
    Artist Shaan

    Article Sources
    ValuePenguin
    USA Govt. Insurance Sites

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