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.