The 7 Best Companies for Earthquake Insurance in 2022. Homeowners often think a standard homeowners insurance policy will cover earthquakes, but this is not the case.
When it comes to earthquake insurance, this kind of coverage can be added to an existing policy, but buying it as a separate policy is more common.
The Insurance Information Institute (III) says that not enough people buy this important coverage even though people in 42 states are at risk for earthquakes and the damage they can cause.
So, comparing earthquake insurance policies and weighing the pros and cons makes sense. This is especially important if you live in a state where earthquakes are not just possible but likely.
We looked at the best earthquake insurance companies to find ones with strong finances and a good name. We also compared earthquake insurance companies based on their coverage types. Whether you add it to an existing homeowners policy and what other benefits customers can count on. What we found is as follows.
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The 7 Best Companies for Earthquake Insurance in 2022
- Best Overall: Allstate
- Amica is the best for California.
- ICW Group has the best business coverage.
- American Family Insurance is the best company to bundle policies with.
- Liberty Mutual is the best for renters.
- Best Online Experience: GeoVera Insurance
- Country Financial has the best customer service.
What is insurance against quakes?
Earthquake insurance is a type of catastrophe insurance that protects policyholders from damage caused by earthquakes that are out of their control. This type of coverage can help you replace your home, fix or replace other structures on your property (like fences, garages, etc.), and cover your personal belongings if they are lost or damaged in an earthquake or its aftershocks.
Many think their standard homeowners’ insurance will cover earthquake damage, but this is not the case. Earthquake insurance is usually bought as an add-on to a standard homeowners or renters insurance policy. Still, you might also be able to buy a separate policy just for earthquakes.
Who Should Get Insurance for Quakes?
People who live along the Pacific Coast or in states like California, Washington, Alaska, and Oregon are most likely to buy earthquake insurance. But the Insurance Information Institute (III) says that people in 42 states are at risk for earthquake damage.
The Insurance Information Institute (III) says that Alaska, Arkansas, California, Hawaii, Idaho, Illinois, Kentucky, Missouri, Montana, Nevada, Oregon, South Carolina, Tennessee, Utah, Washington, and Wyoming are the 16 states most likely to have earthquakes. But they also say that Florida, Iowa, Kansas, Louisiana, Michigan, Minnesota, North Dakota, and Wisconsin have little to no risk.
Is the California Earthquake Authority a good way to protect yourself?
Due to the high risk along the San Andreas Fault and the many expensive earthquakes in California over the last 50 years, many people who buy earthquake insurance are from California. The California Legislature made the California Earthquake Authority (CEA) in 1996 because of how many earthquakes there are and how likely the most expensive ones will happen in the future.
Since then, the CEA has become the largest earthquake insurance provider for homes in the United States. Two-thirds of policies in California are bought from this company. Note that many of the companies on this list work with the CEA to offer earthquake insurance in California.
You can count on earthquake insurance from the CEA when you need it. The Insurance Information Institute (III) says that the CEA is in good financial shape because it has set aside more than $18 billion to pay claims.
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