Business & Real Estate

Purchases of earthquake insurance policies on rise in California

A truckload of fencing is brought to Second Street in Napa outside the earthquake-damaged building that housed the Carpe Diem wine bar in 2014.
A truckload of fencing is brought to Second Street in Napa outside the earthquake-damaged building that housed the Carpe Diem wine bar in 2014. Associated Press file

The Sacramento-based California Earthquake Authority, the not-for-profit provider of more than 75 percent of California’s residential earthquake insurance policies, said Tuesday that it has seen a “significant increase” in the purchase of CEA policies to date in 2016.

CEA said it now has more than 908,000 policies in force, an increase of about 29,000 in the first eight months of this year, or nearly twice the number of new CEA policies purchased in all of 2015.

The group said the spike was likely helped by lower rates and expanded deductible choices introduced this year.

Mark Glover: 916-321-1184, @markhglover

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