That original earthquake, together with all related shaking that occurs within 15 days, are collectively referred to as the “seismic event” in the CEA policy.
The California Earthquake Authority (CEA) provides most earthquake insurance in California. CEA offers earthquake policies, for homeowners, mobilehome owners, condo unit owners and renters. You cannot buy earthquake insurance directly from CEA you buy it directly from insurance companies that are members of CEA.
More specifically, earthquake insurance covers damages to your house, personal belongings inside your home, and Additional Living Expenses (ALE) or loss of use, which are the costs to live somewhere else while a policyholder’s area is evacuated or their home is repaired.
Secondly, what is the average cost for earthquake insurance? According to Schirmers, for most states, the average cost for coverage is between $100 and $300 annually. California, Oregon, Washington and Alaska tend to have higher premiums, with an average cost around $800.
How does California Earthquake Authority work?
Does homeowner insurance cover earthquake damage?