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Is earthquake insurance now officially a thing of the past?

Earthquake activity is on the rise, but coverage against it has been falling for years.

By Tim Sprinkle | Updated on August 18, 2014
This January 1994 file photo shows a collapsed freeway support pylon at the La Cienega Boulevard overpass following the Northridge earthquake in Los Angeles. (AP Photo/UCLA Civil and Environmental Engineering Dept.)

What’s shaking? Not the market for earthquake insurance, apparently.

According to a report released Monday by the Insurance Information Institute (I.I.I.), only 7% of Americans are currently covered against earthquake events, down from 10% last year, despite the fact that 42 U.S. states are at risk for the natural disasters. Most of the risk is centered on the West Coast, the intermountain west and the midwest, the I.I.I. says, but the East Coast has more potential for damaging earthquakes than many realize.

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