By Stig Editor 
Is Earthquake Insurance Required in California? If you live in California, you may be wondering whether earthquake insurance is required by law. The short answer is no, earthquake insurance is not required by California law. However, if you own a home in California, your insurance company must offer to sell you earthquake insurance every other year.
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What is Earthquake Insurance?
Earthquake insurance is a type of insurance that covers damage to your home and personal belongings caused by an earthquake. It is not included in standard homeowners, renters, or condo insurance policy, so you must purchase a separate policy to be covered.
How Much Does Earthquake Insurance Cost?
The cost of earthquake insurance varies depending on several factors, including the location of your home, the age of your home, the type of coverage you choose, and the deductible you select. According to the California Earthquake Authority (CEA), the typical annual cost of earthquake insurance in California is $3.54 per thousand dollars of coverage4. Annual premiums can range from $800 to $5,000, and policy deductibles can be as high as 10-20% of your coverage limit.
Is Earthquake Insurance Worth It?
Whether earthquake insurance is worth it for you depends on several factors, including the likelihood of an earthquake in your area, the potential cost of earthquake damage to your home, and the cost of earthquake insurance premiums and deductibles. According to the Federal Emergency Management Agency (FEMA), most potential earthquake insurance buyers aren’t likely to experience damage that would exceed their deductibles.
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People Also Ask
- Do I need earthquake insurance in California? Earthquake insurance is not required by California law, but it is recommended if you live in an area that is prone to earthquakes
- How much does earthquake insurance cost in California? The cost of earthquake insurance in California varies depending on several factors, but the typical annual cost is $3.54 per thousand dollars of coverage
- Is earthquake insurance worth it in California? Whether earthquake insurance is worth it for you depends on several factors, including the likelihood of an earthquake in your area, the potential cost of earthquake damage to your home, and the cost of earthquake insurance premiums and deductibles
Conclusion
In conclusion, earthquake insurance is not required by California law, but it is recommended if you live in an area that is prone to earthquakes. The cost of earthquake insurance varies depending on several factors, but the typical annual cost in California is $3.54 per thousand dollars of coverage. Whether earthquake insurance is worth it for you depends on several factors, including the likelihood of an earthquake in your area and the potential cost of earthquake damage to your home.
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