Facts + Statistics: Earthquakes and tsunamis

SPONSORED BY

Top 10 Costliest U.S. Earthquakes By Inflation-Adjusted Insured Losses (1)

($ millions)

        Insured losses (1)
Rank Date Event Location When occurred In 2021 dollars (2)
1 Jan. 17, 1994 Northridge CA $15,300 $28,357
2 Apr. 18, 1906 San Francisco CA 235 7,303
3 Oct. 18, 1989 Loma Prieta CA 960 2,071
4 Feb. 28, 2001 Nisqually WA 315 486
5 Jan. 7, 2020 Puerto Rico PR 425 446
6 Aug. 24, 2014 South Napa CA 200 228
7 Feb. 9, 1971 San Fernando CA 32 215
8 Oct. 1, 1987 Whittier Narrows CA 75 176
9 Nov. 30, 2018 Anchorage AK 150 161
10 Aug. 23, 2011 Virginia VA, DC 100 120

(1) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Ranked on losses in 2021 dollars. Subject to change as loss estimates are further developed. As of February 1, 2022.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

View Archived Tables

Top 10 Writers Of Earthquake Insurance By Direct Premiums Written, 2021

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 California Earthquake Authority (3) $917,219 19.5%
2 FM Global  505,904 10.8
3 State Farm 305,289 6.5
4 Zurich Insurance Group 296,818 6.3
5 Palomar Specialty Insurance Co. 244,104 5.2
6 Chubb Ltd. 182,593 3.9
7 Travelers Companies Inc. 166,716 3.6
8 Sompo Holdings Inc. 138,969 3.0
9 American International Group (AIG) 128,598 2.7
10 Liberty Mutual 119,260 2.5

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.
(3) California Earthquake DWP obtained from its financial statements reported on its website.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Earthquake insurance

Standard homeowners, renters, and business insurance policies do not cover earthquake damage. Coverage is available either as an endorsement or as a separate policy. Earthquake insurance mitigates damage costs and other liabilities that stem from the shaking and cracking that can destroy buildings and personal possessions. Standard home and business insurance policies provide coverage for other kinds of damage that may result from earthquakes, such as fire and water damage due to burst gas and water pipes. Earthquake coverage is primarily available from private insurance companies. In California, homeowners can also get coverage from the California Earthquake Authority (CEA), a privately funded, publicly managed organization

Twenty-three percent of homeowners who had homeowners insurance responding to the 2020 Triple-I Consumer Poll said they had earthquake insurance, up from 15 percent in 2018. Homeowners in the West were most likely to have earthquake insurance, with 28 percent saying they had the coverage, followed by the South at 25 percent, the Northeast at 21 percent, and the Midwest at 16 percent. See the Poll report for details.

Earthquake Insurance, Direct Premiums Written by State, 2021 (1)

($000)

Rank State Direct premiums written ($000)
1 California $1,785,290
2 Washington   320,039
3 Oregon 147,066
4 Missouri 128,488
5 Tennessee 120,359
6 Illinois 106,857
7 Utah 103,740
8 New York 70,488
9 Kentucky 62,189
10 South Carolina 53,211
11 Indiana 52,305
12 Texas 51,709
13 Nevada 51,172
14 Alaska 48,988
15 Arkansas 46,122
16 Ohio 39,630
17 Massachusetts 36,681
18 Florida 33,389
19 Virginia 29,451
20 Georgia 29,077
21 New Jersey 26,484
22 Pennsylvania 26,063
23 Mississippi 25,389
24 Hawaii 23,509
25 Maryland 21,482
26 Oklahoma 19,762
27 North Carolina 17,941
28 Arizona 17,012
29 Colorado 16,251
30 Michigan 12,479
31 Kansas 11,896
32 Alabama 11,509
33 Connecticut 10,172
34 Idaho 9,054
35 Wisconsin 8,992
36 Montana 8,959
37 Minnesota 8,410
38 Louisiana 6,734
39 Iowa 6,607
40 New Mexico 5,307
41 Wyoming 5,291
42 New Hampshire 5,072
43 Washington, DC 4,989
44 Rhode Island 3,646
45 Maine 3,272
46 Nebraska 2,683
47 Vermont 1,830
48 Delaware 1,673
49 West Virginia 1,449
50 North Dakota 1,090
51 South Dakota 805
  United States $3,642,061

(1) Includes the California Earthquake Authority, a state fund.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Earthquake Insurance, 2012-2021

($000)

Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2012 $1,593,451 8.6% 36.3 -19.5 pts.
2013 1,586,985 -0.4 30.3 -6.0
2014 1,641,847 3.5 34.0 3.7
2015 1,649,753 0.5 28.1 -5.8
2016 1,535,142 -6.9 34.4 6.2
2017 1,511,543 -1.5 42.3 8.0
2018 1,827,543 20.9 44.3 2.0
2019 1,985,433 8.6 29.0 -15.3
2020 2,386,798 20.2 38.1 9.1
2021 2,824,051 18.3 36.1 -2.0

(1) After reinsurance transactions, excludes state funds, such as the California Earthquake Authority, a not-for-profit, privately funded, publicly managed organization that provides coverage in California.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded numbers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Additional Resources

U.S. Geological Survey (USGS) Significant Earthquakes

Southern California Earthquake Data Center (SCEDC), Recent Earthquakes in California and Nevada

Back to top