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The 1994 Northridge quake was the costliest U.S. earthquake on record, causing $15.3 billion in insured damages when it occurred ($28.4 billion in 2021 dollars) according to Aon. The Northridge quake ranks as the eighth costliest U.S. disaster, based on insured property losses (in 2021 dollars). Six of the costliest U.S. quakes, based on inflation-adjusted insured losses, were in California.
($ millions)
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(1) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Ranked on losses in 2022 dollars. Subject to change as loss estimates are further developed. As of January, 2023.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.
Source: Aon.