After a damaging earthquake, we’ll look for the strength to recover anywhere we can – it may come to us in the form of a family photo or a treasured heirloom pulled from the rubble. We will rely on those close to us for personal strength in the face of an overwhelming disaster. And many Californians also will turn to the California Earthquake Authority (CEA) to get the financial strength they’ll need to rebuild.
The strength to hold you steady after an earthquake
Earthquakes strike without warning. With CEA earthquake insurance, you can recover with the strength to rebuild.
Your homeowners policy does not cover earthquake damage – a separate policy is required, at some extra cost. But without earthquake insurance to handle repairs and expenses, you will pay out-of-pocket to fix your home, and live and eat elsewhere, while making mortgage payments until repairs have been completed.
Purchasing earthquake insurance from the CEA gives you the peace-of-mind that comes from knowing you can recover. The CEA and its network of leading homeowners insurance companies will work together to help you put your life back on stable ground after a damaging earthquake through unparalleled service and claim-paying ability.
Contact your homeowners insurance agent today to purchase earthquake coverage from the CEA.
Rebuilding begins with a strong foundation
The CEA and its network of leading homeowners insurance companies will work together to give you the support you’ll need if your home suffers catastrophic damage from an earthquake.
• With nearly $10 billion in claim-paying power, the CEA could cover all of its claims if the 1906 San Francisco, 1989 Loma Prieta and 1994 Northridge earthquakes all reoccurred today.
• CEA policies are sold and serviced by leading homeowners insurance companies.
• As a non-profit earthquake insurance provider, the CEA focuses exclusively on serving the needs of its policyholders.
• The CEA receives no funds from California’s state budget, nor can the State of California spend CEA funds.
Five reasons to buy CEA earthquake insurance
CEA policies are sold and serviced by your homeowners insurance agent.
All CEA earthquake insurance policies are sold and serviced by its network of leading homeowners insurance companies. Contact your homeowners insurance agent whom you already know and trust for more information about CEA policies.
CEA policy premiums are based on individual homes.
The CEA insures houses, condominiums, townhouses and manufactured homes (such as mobilehomes), whether you own or rent. CEA insurance premiums are based on insured value, construction-type and age, number of stories, and location – and rates are always based on science, not profit.
CEA pays claims with no cash out of your pocket.
Out-of-pocket cash isn’t required to receive a claim payment from the CEA. Your deductible is used only to determine the portion of your claim the CEA will pay. You may be eligible to receive up to the full insured value of your house.
Federal assistance may not be enough to repair your home.
If the president declares a disaster, the Federal Emergency Management Agency may grant up to about $30,000 only for those who qualify.
Federal loans must be repaid.
The Small Business Administration may make available low-interest loans to help with repairs. But you must qualify, and of course you must repay the loan. SBA loans are limited to $200,000 for structural repairs and $40,000 for personal property.
