A spokesperson from Allstate, Mike Trevino said, “Allstate is attempting to place its homeowners policyholders’ earthquake risk with other carriers… as we have looked at the exposure, that’s not a risk we want to continue to insure.”
This announcement however does not affect California because, “In California, insurers that sell homeowners insurance are required to provide coverage as part of the California Earthquake Authority, with participation based on their share of the market, so policyholders will not be affected there.”
This decision is unfortunate for all the people covered for earthquakes by Allstate but there are still plenty of other insurance companies.
