Safeguarding Your Home: Earthquake Insurance and Retrofitting in California

Understanding Earthquake Insurance

Living in earthquake-prone areas like California, it's crucial to understand that standard homeowners and renters insurance policies typically do not cover earthquake damage. Janet Ruiz, Triple-I's California-based director of strategic communication, advises residents to consider purchasing a policy that at least covers the structure, building code upgrades, and emergency repairs. Additional coverage options for living expenses, personal property, and even damaged swimming pools or masonry veneer are also available.

The Importance of Retrofitting Older Homes

Older homes, especially those built before 1980, are more susceptible to earthquake damage due to outdated seismic building codes. According to U.S. Census data, over 53 percent of housing units in San Diego County fall into this category. Seismic retrofitting can strengthen these homes, making them more resistant to shaking and potentially saving homeowners from costly repairs. The process is often less expensive and quicker than expected, with costs typically ranging from $3,000 to $7,000 and taking a couple of days to complete.

Balancing Wildfire and Earthquake Risks

As Californians focus on wildfire readiness, it's essential not to neglect earthquake risk. Even relatively mild tremors can cause significant damage. Ruiz encourages residents to mitigate their risk through education, mitigation, and insurance. The California Earthquake Authority (CEA) offers premium discounts for policyholders who have retrofitted their homes, further incentivizing this protective measure.

In conclusion, while wildfires are a pressing concern, earthquake preparedness remains vital. Homeowners should consider both earthquake insurance and retrofitting to protect their homes and families. By investing in these measures, Californians can significantly reduce their risk and financial burden in the event of an earthquake.