Guide to Earthquake Insurance Cost Comparisons

Guide to Earthquake Insurance Cost Comparisons


Lately, we’ve seen an uptick in inquiries about earthquake insurance cost.  Of course, this happens every time we have a major earthquake here in California.  However, now it is being accentuated with 5.0+ temblors in Oklahoma of all places, about as far from a coastal quake zone as you can imagine.  Whassa matter Oklahoma?  Tornados ain’t good enough for ya’?  Now you’re horning in on our sweet natural disaster action?

Be that as it may, here in California, most homeowners have at least a passing familiarity with the CEA or California Earthquake Authority, a publicly funded, privately administered risk pool.  See if you are a homeowner, you most likely get an offer of earthquake insurance every other year, usually through the CEA.  Problem is, as with most things the government tries to do, the CEA is not optimally run.  The rates are bad, the coverage is bad and it simply falls short of the product offerings of the private companies that sell earthquake insurance.  That’s not to say that the CEA is not the best option for some if they fall into one of the high-risk geologic areas, it’s just that more often than not the earthquake insurance cost from them is not the most competitive.  Additionally, that one quote every other year does not give a complete picture like an earthquake insurance cost comparison among different companies would.

Wait, what?  There are other ways to get covered for earthquake?  And you mean earthquake insurance costs don’t have to be so high and the coverage doesn’t have to be stripped down to essentially bare-bones coverage with super-high deductibles?  That’s right, on all counts.  Bogged down by bureaucracy and a mandate that they must insure any and all areas, regardless of seismic risk, the CEA is really the least attractive option for all but the riskiest areas.  The thing is, though, that since most homeowners insurance companies subscribe to it, most agents only offer it.  Only independent agents who can represent multiple companies have the flexibility to offer competing policies with more earthquake coverage, lower premiums and lower deductible options.

How to Determine Your Best Earthquake Insurance Cost Options

So it’s as simple as calling an independent agent who handles multiple companies.  While a fair number of independent agents do, not all have more than one earthquake insurance cost option for you.  If you can’t find one, you can simply complete this quick form and we will get back to you with multiple quotes.  Nobody has access to more earthquake insurance products with more coverage options and deductible choices.  If that form doesn’t tickle your fancy, call us at 760-242-2345 and we’ll discuss your options over the phone.

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