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

Allstate Insurance company

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 logo
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 plans
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 stability in shaky times
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
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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