In 2007 a group of multi-disciplinary scientists and engineers in fields of seismology, geology, etc carried out a study known as the Uniform California Earthquake Rupture Forecast. The study showed that California has more than a 99% chance of having an earthquake of 6.7 or greater magnitude within the next 30 years. A likely source of such a quake would be the Hayward-Rodgers Creek Fault, which is located on the east side of the San Francisco Bay and runs through cities such as Richmond, Berkeley, El Cerrito, San Leandro, Fremont, Oakland, Hayward and San Jose. 

Scientists say that major earthquakes often come in clusters and after Chile’s 8.8, New Zealand’s 6.1 and Japan’s 8.9 and then succeeding 7.1 and 6.6 magnitude earthquakes, Californians are wondering are we next? The answer is, most likely and the solution is preparedness.

California insurance agencies are required by law to offer earthquake coverage to their policyholders, but this does not mean that all residential insurance policies offer sufficient earthquake coverage. Many residents assume that governmental disaster-relief programs will make up the difference, but this is a dangerous assumption, as such programs are only designed to supply basic relief and not to replace the entirety of your estate.

Some residents assess their risk based on their areas’ history of earthquakes, but don’t take into account that earthquake faults that have recently ruptured are in fact less likely to be the sources of major quakes, while faults that have been inactive for long periods of time have had the opportunity to accumulate tension that could result in devastating seismic activity.

Some residents assess their risk based on their areas’ history of earthquakes, but don’t take into account that earthquake faults that have recently ruptured are in fact less likely to be the sources of major quakes, while faults that have been inactive for long periods of time have had the opportunity to accumulate tension that could result in devastating seismic activity.

California Earthquake Authority poses the following questions when considering how much coverage is right for you:

Ultimately, the best way to determine if you are at risk for major loses during the event of an earthquake is by communicating with your California independent insurance agent and working through questions such as these to design a policy that will protect your family’s assets without draining your wallet.