An earthquake-damaged house in Trona, CA following the 7.1M Ridgecrest earthquake on July 5, 2019

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Earthquake Insurance Urged By California Earthquake Authority After Ridgecrest Quakes

Jeffrey Schaub
July 08, 2019 - 12:38 pm

The damaging earthquakes near the small city of Ridgecrest in Kern County have state leaders reminding people that they should consider taking out an insurance policy through the California Earthquake Authority. 

The CEA began offering the natural disaster-specific insurance after the 1994 Northridge earthquake in Southern California. There was $40 billion in damages and traditional insurance carriers stopped providing policies. 

Rates have dropped by half and average about $800 a year, a substantial difference since coverage first became available 25 years ago.

"The only way to be financially secure for the damages that an earthquake can cause is to have a separate earthquake insurance policy, the kind that's only available by the California Earthquake Authority,"said the authority's CEO Glenn Pomeroy to station KNX.

A majority of Californians live within 30 miles of an active fault line, yet only 13% of property owners have earthquake insurance, Pomeroy said.