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Facts + Statistics: Earthquakes and tsunamis

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

($ millions)

        Insured losses (1)
Rank Date Event Location When occurred In 2024 dollars (2)
1 Jan. 17, 1994 Northridge CA $15,300 $33,035
2 Apr. 18, 1906 San Francisco CA 235 8,507
3 Oct. 18, 1989 Loma Prieta CA 960 2,413
4 Feb. 28, 2001 Nisqually WA 315 566
5 Jan. 7, 2020 Puerto Rico PR 425 520
6 Aug. 24, 2014 South Napa CA 200 274
7 Feb. 9, 1971 San Fernando CA 32 250
8 Oct. 1, 1987 Whittier Narrows CA 75 205
9 Nov. 30, 2018 Anchorage AK 150 189
10 Aug. 23, 2011 Virginia VA, DC 100 139

(1) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

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Top 10 Writers Of Earthquake Insurance By Direct Premiums Written, 2024

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 California Earthquake Authority (3) $882,827 14.6%
2 FM Global  574,275 9.5
3 Palomar Specialty Insurance Co. 515,116 8.5
4 Zurich Insurance Group 437,071 7.2
5 State Farm 339,265 5.6
6 Berkshire Hathaway 292,870 4.9
7 Travelers Companies Inc. 255,926 4.2
8 Chubb Ltd. 224,120 3.7
9 QBE 191,459 3.2
10 GeoVera Holdings 152,310 2.5

(1) Before reinsurance transactions, includes state funds. Direct premiums written for earthquake line of business.
(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

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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.

According to a 2023 Consumer Survey by the Triple-I and Munich Re, over 37 percent of residents in the western U.S. report having purchased earthquake coverage. This proportion is almost three times higher than other regions.

Earthquake Insurance, Direct Premiums Written by State, 2024 (1)

($000)

Rank State Direct premiums written ($000)
1 California $3,582,421
2 Washington   463,939
3 Oregon 206,864
4 Missouri 154,668
5 Utah 148,833
6 Tennessee 138,836
7 New York 120,317
8 Illinois 124,280
9 Texas 69,576
10 Nevada 75,115
11 South Carolina 69,117
12 Florida 81,385
13 Indiana 58,860
14 Kentucky 59,543
15 Arkansas 58,230
16 Alaska 60,908
17 Massachusetts 54,049
18 Ohio 44,828
19 New Jersey 41,624
20 Pennsylvania 33,343
21 Virginia 32,811
22 Hawaii 34,311
23 Georgia 28,990
24 Mississippi 28,991
25 Arizona 23,167
26 North Carolina 31,995
27 Colorado 19,636
28 Maryland 19,184
29 Oklahoma 19,515
30 Michigan 14,614
31 Alabama 13,810
32 Wisconsin 10,354
33 Connecticut 13,018
34 Montana 11,684
35 Idaho 12,210
36 Kansas 10,348
37 Louisiana 7,987
38 Iowa 7,672
39 Minnesota 8,330
40 Wyoming 8,403
41 Washington, DC 5,470
42 New Mexico 6,063
43 New Hampshire 5,786
44 Rhode Island 4,428
45 Nebraska 3,387
46 Maine 3,178
47 West Virginia 870
48 Delaware 2,261
49 Vermont 3,153
50 South Dakota 681
51 North Dakota 1,148
  United States (2) $6,330,766

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

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

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Earthquake Insurance, 2015-2024

($000)

Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2015 $1,642,730 0.6% 28.5 -5.9 pts.
2016 1,526,914 -7.1 34.5 6.1
2017 1,429,548 -6.4 44.6 10.0
2018 1,775,279 24.2 45.4 0.8
2019 1,955,713 10.2 29.4 -15.9
2020 2,349,315 20.1 38.8 9.4
2021 2,894,251 23.2 36.9 -2.0
2022 3,059,133 5.7 31.4 -5.4
2023 3,705,470 21.1 30.1 -1.3
2024 3,734,779 0.8 32.7 2.6

(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 data.

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

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Additional Resources

U.S. Geological Survey (USGS) Significant Earthquakes

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

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