East Coast Jolt Is Wake-Up Call For Congress To Act on Quake Insurance Affordability (Web Page)
SACRAMENTO – With shaking from an earthquake in Virginia felt as far away as New York, Illinois and Georgia, on the heels of a 5.3 magnitude earthquake in Colorado yesterday, federal decision makers in the U.S. Capitol today received a reminder that prioritization for earthquake preparedness is not just for the Western states. “We’re relieved that the millions of Americans who felt the earthquake appear to have escaped the…
CEA Unveils Lower Rates, More Policy Options and Bigger Discounts For Earthquake Insurance (Web Page)
Earthquake Insurance in California is about to become more flexible and more affordable, with changes that go into effect on January 1, 2016, for policies provided by the California Earthquake Authority (CEA). CEA is a not-for-profit earthquake Insurance provider and writes 75 percent of the residential earthquake-Insurance policies in California. “Many Californians have mixed feelings about…
Q: Is earthquake insurance expensive? (FAQ)
A. CEA offers coverage and limit choices as well as more deductible options to help you find a policy that best meets your needs and budget. Use the CEA Premium Calculator to estimate the cost of your earthquake insurance policy.
Q: Why choose CEA earthquake insurance? (FAQ)
A. The not-for-profit CEA is one of the world’s largest providers of residential earthquake insurance. Our rates are based on science, not profit, enabling us to use the best science available to determine competitive earthquake insurance rates best science available to determine competitive earthquake insurance rates . CEA is actuarially sound and could pay all covered claims if the 1906 San…
Q: Do I Need Residential Earthquake Insurance? (FAQ)
A. The real question is: Are you feeling lucky? Scientists predict a major earthquake in the near future. Most Californians live within 30 miles from an active earthquake fault . There are nearly 16,000 known earthquake faults in California. Scientists continue to find new ones. Earthquake insurance is not required by California law. Only by purchasing a separate earthquake insurance policy joined with your home…
Governor Signs New Legislation that Changes the Way Californians Learn About Home Earthquake Insurance (Web Page)
(SACRAMENTO) Gov. Jerry Brown signed Assembly Bill 2064 today, which will change the way Californians learn about earthquake Insurance for their homes. Under California law, insurers that sell residential property Insurance also must offer earthquake coverage to their policyholders. The current notice – the only required offer of earthquake Insurance that policyholders ever get – has…
Q: Do I really need earthquake insurance? (FAQ)
A. Earthquake insurance is not mandatory; however, earthquakes are a certainty in California. A big earthquake may cause catastrophic damage to your home’s structure and foundation—and may require use of your hard-earned life savings to repair damage to your home. Earthquake insurance coverage can help offset potentially devastating financial losses from earthquakes.
Q: Can I buy insurance from other companies? (FAQ)
A. Yes. Many Californians live within 30 miles of an active fault, so the most important thing is that you are protected, whether you choose CEA or another insurance provider. We believe in promoting greater private market engagement. Our participating residential insurers can advise their customers about the availability of other private insurance companies that offer earthquake …
Q: Where can I buy a CEA earthquake insurance policy? (FAQ)
A. You can buy a CEA earthquake insurance policy through one of CEA's CEA Participating Residential Insurers participating residential insurance companies . CEA does not offer stand-alone policies. Learn more about how to buy a CEA earthquake insurance policy.