Serving Larchmont Village, Hancock Park, and the Greater Wilshire neighborhoods of Los Angeles since 2011.

New Earthquake Insurance Policies and Rates in Effect as of January 1

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We may be worried about El Niño rains this week, but fears about major earthquakes are never far behind.

cea_logoSome good news on that front is that changes in California’s earthquake policies and rates (for policies provided by the California Earthquake Authority (CEA), the non-profit organization that writes 75% of the residential earthquake insurance policies in California) went into effect on January 1, 2016, bringing lower rates for many policies, increased coverage amounts and more deductible options.

There’s also a new CEA online premium calculator, accessible on any smart phone, tablet or desktop.

According to the the CEA, the U.S. Geological Survey says the likelihood of a 6.7 magnitude or larger earthquake in California (the same magnitude as the 1994 Northridge earthquake) is more than 99% likely in the next 30 years, which is the duration of a typical home mortgage. Still, fewer than 10% of California homes are covered by earthquake insurance. (By the way, earthquake insurance isn’t just for homeowners these days — renters can also get earthquake policies, to help recover losses of possessions and living space in the event of a major quake.)

So it might be a good idea to make it a New Year’s resolution to check your coverage.  For details and more information see (The website also has great resources for earthquake preparedness, seismic retrofitting, fault maps, risks, and other earthquake-related topics.)

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Elizabeth Fuller
Elizabeth Fuller
Elizabeth Fuller was born and raised in Minneapolis, MN but has lived in LA since 1991 - with deep roots in both the Sycamore Square and West Adams Heights-Sugar Hill neighborhoods. She spent 10 years with the Greater Wilshire Neighborhood Council, volunteers at Wilshire Crest Elementary School, and has been writing for the Buzz since 2015.

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