The California Earthquake Authority (CEA), established in September 1996 by the

California Legislature The California State Legislature is the bicameral state legislature of the U.S. state of California, consisting of the California State Assembly (lower house with 80 members) and the California State Senate (upper house with 40 members). ...

following the

Northridge Earthquake The 1994 Northridge earthquake affected Greater Los Angeles, California, on January 17, 1994, at 04:30:55 PST. The epicenter of the moment 6.7 () blind thrust earthquake was beneath the San Fernando Valley. Lasting approximately 8 seconds a ...

, is a privately financed, publicly managed entity based in Sacramento, California. It specializes in providing

earthquake insurance Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage. Most earthquake insuran ...

to homeowners, mobile-home owners, condo unit owners, and renters throughout California. Policies are offered through participating insurance companies, rather than directly from the CEA. The range of coverage provided by the CEA includes dwelling, personal property, and additional living expenses, along with unique options such as the Homeowners Choice policy. In 2019, the CEA controlled 67% of California's market for residential earthquake insurance. Despite this significant market share, only 14% of all residential insurance policyholders in the state had earthquake coverage. This percentage includes various types of dwellings, with homeowners and condo owners at approximately 16%, renters at 14%, and mobile home owners at 20%.

References

External links

California Earthquake Authority website
Financial services companies established in 1996 Insurance companies of the United States {{US-finance-company-stub