HOMEOWNERS COMPLACENT OVER CALIFORNIA EARTHQUAKE RISK

The U.S. Geological Survey says the likelihood of a 6.7 magnitude earthquake to hit California in the next 30 years is 99.7 percent, but only between 12 and 15 percent of homeowners in the State buy coverage. Steven Weisbart, Chief Economist of the Insurance Information Institute, said people are taking a high-stakes risk. "What they're really saying is "I'm wiling to take the chance my $300,000 house will be reduced to zero." For some people that's their single largest asset."