Natural Hazards and Earth System Sciences
Natural Hazards and Earth System Sciences
NHESS
Articles | Volume 19, issue 8
Articles | Volume 19, issue 8
https://doi.org/10.5194/nhess-19-1909-2019
© Author(s) 2019. This work is distributed under
the Creative Commons Attribution 4.0 License.
https://doi.org/10.5194/nhess-19-1909-2019
© Author(s) 2019. This work is distributed under
the Creative Commons Attribution 4.0 License.
Articles | Volume 19, issue 8
Research article
 | 
29 Aug 2019
Research article |  | 29 Aug 2019

California earthquake insurance unpopularity: the issue is the price, not the risk perception

Adrien Pothon, Philippe Gueguen, Sylvain Buisine, and Pierre-Yves Bard

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Short summary
Despite California being a region highly prone to seismic activity, most homeowners are not covered against this risk. This study analyses the reasons for homeowners to purchase insurance to cover earthquake losses, with application in California. Results suggest that only two extreme situations would lead all owners to cover their home with insurance: (1) a widespread belief that a devastating earthquake is imminent; (2) a massive decrease in the average premium amount by a factor exceeding 6.
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