Only 10.8% of Californians with residential insurance had Earthquake coverage at the end of 2016, compared with nearly 33% who carried insurance when the Northridge quake struck in January 1994, according to the California Department of Insurance. This in part is due to the soaring number of houses built in California, leaving those covered by Earthquake insurance a low percentage of the total number of homeowners. Also contributing to the lack of insurance is that individuals mistakenly believe Earthquake coverage is covered under their Homeowners, Condominium or Renters policy, or that if the quake is big enough they will get assistance from the federal government. But grants from the FEMA under its individuals and households program are capped at $33,300. The average home price in Los Angeles County is a record $580,000, more than triple the median price of $189,400 in mid-1994.
