You are here:HomeNews CenterInsurance News2016A California Earthquake Could Be Bigger

A California Earthquake Could Be Bigger

A 2014 study by federal, California, and academic researchers showed that much of the San Andreas fault could unzip all at once, unleashing a rare, singular catastrophe. Now, a firm has used that research to come up with a new analysis of the damage that could be caused by a statewide break of the San Andreas fault...
November 22, 2016

A 2014 study by federal, California, and academic researchers showed that much of the San Andreas fault could unzip all at once, unleashing a rare, singular catastrophe. Now, a firm has used that research to come up with a new analysis of the damage that could be caused by a statewide break of the San Andreas fault.

READ: California Earthquake Risk Report

The analysis by CoreLogic Inc. concludes that as many as 3.5 million homes could be damaged in an 8.3-magnitude quake along a roughly 500-mile portion of the fault — compared with 1.6 million homes damaged if only the northern part of the fault were to break, or 2.3 million if the southern piece ruptured. The damage to homes alone could total $289 billion, compared with a previous range of $137 billion on the southern portion of the fault and $161 billion in the north.

The CoreLogic report could help encourage more people to take out earthquake insurance in the state, where just 10 percent of homeowners have coverage, said Glenn Pomeroy, CEO of the California Earthquake Authority.

Filed under: