Request for Qualifications and Proposals - California Earthquake 2025

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You may even have to move out of your home while it is repaired or rebuilt. Homeowners, renters, and condominium insurance policies do not cover damage from natural disasters such as earthquakes, floods, and landslides. Earthquake insurance can help pay for some of your losses.
How much does earthquake insurance cost? Earthquake insurance in California can, on average, cost between $1,000 to $2,500 annually for $500,000 of coverage. However, you can customize your earthquake insurance quote to tailor a policy just for you.
About $19 billion in claim-paying capacity When it comes to financial strength, California Earthquake Authority (CEA) is on solid ground: Largest provider of residential earthquake insurance in the U.S. Provides two-thirds of the residential earthquake insurance policies sold in California.
Yes. There are many things you can do to protect your home and reduce the damage caused by earthquakes. Whether you buy earthquake insurance or not, you should do what you can to protect your home, your belongings, and your family.
One of the main problems with earthquake insurance is that youre insuring your entire building value, not just your equity. If there was an earthquake, the bank basically is made whole first, and you eat any losses.
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Earthquake insurance covers some of the losses and damage that earthquakes can cause to your home, belongings, and other buildings on your property. If you have a mortgage, you must have homeowners insurance. But you do not have to buy earthquake insurance.
In order to qualify for CEA insurance, you must have a homeowners insurance policy with one of the participating insurance companies. However, all home insurance companies in California are required by law to offer earthquake insurance, either through a private provider or the CEA.
Homeowners insurance doesnt cover earth movement, including damage directly caused by earthquakes. So if you dont have earthquake coverage, then youll have to cover any earthquake damage out of pocket.

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