Earthquake Insurance (information guide, text version)
Published by California Department of Insurance. Jurisdiction CA.
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These are the only claims this record is used to carry anywhere in the library.
If you have homeowners insurance in California, your company must offer to sell you earthquake insurance, and it must offer this every other year.
claim cdi-earthquake-insurance-guide#c1The offer must be in writing and must tell you the amounts it covers (the limits), the deductible, and the premium.
claim cdi-earthquake-insurance-guide#c2You have 30 days to accept the offer, the 30-day period starts the date the company mails the offer to you, and if you do not reply you are rejecting the offer.
claim cdi-earthquake-insurance-guide#c3Homeowners, renters, and condominium insurance policies do not cover damage from natural disasters such as earthquakes, floods, and landslides.
claim cdi-earthquake-insurance-guide#c4California law says that both homeowners and renters insurance must cover fire damage that is caused by or follows an earthquake.
claim cdi-earthquake-insurance-guide#c5You cannot buy earthquake insurance directly from CEA; you buy it from insurance companies that are members of CEA, you must have a residential property insurance policy in place in order to get a CEA earthquake policy, and you must purchase the CEA policy from the same insurance company that carries your residential policy.
claim cdi-earthquake-insurance-guide#c6CEA offers deductibles of 5 percent, 10 percent, 15 percent, 20 percent, and 25 percent, with two exceptions: if a home is valued at over $1 million dollars, and/or if the home was built before 1980 on a raised or other non-slab type foundation and is not verified to have been seismically retrofitted. In both these cases the lowest available deductible will be 15 percent.
claim cdi-earthquake-insurance-guide#c7For CEA Coverage A dwelling coverage, the limit on your earthquake insurance is the same as the limit on your homeowners insurance dwelling coverage.
claim cdi-earthquake-insurance-guide#c8For CEA Coverage C personal property, the limit starts at $5,000 and you can increase the limit to $25,000.
claim cdi-earthquake-insurance-guide#c9For CEA Coverage D additional living expenses, the limits range from $1,500 to $100,000, and this coverage never has a deductible under CEA.
claim cdi-earthquake-insurance-guide#c10CEA condo unit policies provide up to $100,000 for the unit owner's share of certain assessments if the association imposes an assessment for covered damage caused by an earthquake.
claim cdi-earthquake-insurance-guide#c11You may be able to buy building code upgrade coverage, now up to $30,000, and CEA homeowners policies include the first $1,500 for emergency repairs with no deductible.
claim cdi-earthquake-insurance-guide#c12As with most earthquake policies, CEA insurance does not cover landscaping, pools, fences, masonry, or separate buildings.
claim cdi-earthquake-insurance-guide#c13A few companies offer stand-alone policies that are not CEA policies and that can be bought without buying homeowners insurance from the same company.
claim cdi-earthquake-insurance-guide#c14
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Published: 2024-04-25 Effective: not applicable; guidance page