Earthquake insurance for CA home owners?

Since forecast of the “big one” is due for CA, I’ve read some pros & cons of having the earthquake insurance for CA home owners.

One of the most striking argument against the insurance is that CEA will likely to run out of funds and 15% or higher deductible makes the insurance not worth the premium.

Hoping to get some sound reasons to help make the decisions. Thanks.

Check out the thread below for starters.

Plagues earthquake locusts. Good luck with insurance. When all hell breaks loose Smith and Wesson maybe your best insurance. I am betting on Strum Ruger.

15% deductible and will the insurer have enough funds in the kitty to cover all the claims. The problem with earthquake is that many homes will be damaged all at the same time and everyone will be making a claim at the same time.

Moments Later: Will fed print money to help homeowners affected by a shake should it happen?

CEA now offer 5%,10%.15%,20%,25% deductible options and adjust premiums accordingly. Their website claims that they have sufficient funds to cover loses from 1989 + 1994 earthquake were they to happen today at the same time. The government “may” bail you out - but it will take years to receive the funds and it will likely be a low interest loan. In the mean time you will have a mortgage to pay and no place to stay.
I signed up for the earthquake retrofit program - CEA gives $3k bolt house to foundation. I also have earthquake insurance.

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