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Demand for earthquake insurance increase in July to near record numbers

Posted: 10:56 AM, Aug 29, 2019
Updated: 2019-08-29 13:57:08-04

The California Earthquake Authority reporting they gained more than 23,000 new earthquake insurance policies in July following those quakes in Ridgecrest and Trona earlier this year. It was the second-largest monthly net increase in the agency's 23-year history.

This growth was driven by the magnitude 6.4 and 7.1 earthquakes, and a number of aftershocks. The July numbers brought the total policy count to over one million as of July 31st.

The largest monthly gain on record was in September 2017, following hurricanes in the southeastern United States, earthquakes in Mexico and wildfires in California, when there was an increase of nearly 26,000 policies.