About California earthquake authority
California Earthquake Authority (CEA) is a non-profit organization that provides residential earthquake insurance to homeowners in California. The company was established in 1996 after the Northridge earthquake, which caused significant damage and loss of life. CEA's mission is to help Californians prepare for and recover from earthquakes by providing affordable insurance coverage, educating the public about earthquake risks, and supporting research on seismic activity.
CEA offers a range of policies designed to meet the needs of different homeowners. These policies cover damage to homes, personal property, and additional living expenses incurred as a result of an earthquake. Homeowners can choose from various deductibles and coverage limits depending on their budget and risk tolerance.
One of the unique features of CEA's policies is that they are backed by the state government. This means that if there is a large-scale earthquake that causes significant damage across California, CEA will have access to funds from the state's reserve fund to pay out claims. This provides an extra layer of security for policyholders who may be concerned about whether their insurer will be able to pay out claims in the event of a major disaster.
In addition to offering insurance coverage, CEA also provides resources for homeowners looking to prepare for earthquakes. The company has developed an online tool called MyHazards that allows users to enter their address and see information about potential hazards in their area such as fault lines or liquefaction zones. CEA also offers tips on how homeowners can retrofit their homes or make other improvements to reduce their risk of damage during an earthquake.
CEA has received numerous awards for its work in promoting earthquake preparedness and providing affordable insurance coverage. In 2020, it was recognized by Insurance Business America as one of the top five insurers in California based on customer satisfaction ratings.
Overall, if you are a homeowner in California looking for peace of mind when it comes to protecting your home against earthquakes, California Earthquake Authority should be at the top of your list when considering insurance providers. With its affordable policies backed by state funds and commitment towards educating Californians about seismic risks through innovative tools like MyHazards – this company truly stands out among others!