Since homeowner’s insurance policies do┬ánot┬ácover losses due to earthquake damages, it would be cheaper for homeowners to buy an earthquake insurance policy than paying out of pocket to repair or rebuild their home after a destructive earthquake especially after knowing these facts:

  1. California has nearly 250 identified faults that are responsible for more than 10,000 earthquakes a year with 3.0 magnitude or more.
  2. In 2008, USGA forecasters predicted a 99% chance of a 6.7 magnitude quake in California in the next 30 years.
  3. There is a 46% in the next 30 years of an earthquake being 7.5 or greater with Southern California the likely center.
  4. Northern California has a 10% chance of an earthquake at magnitude 8 to 9 in the next 30 years.

So don’t take chances, Be prepared.