If you live in the city of Los Angeles, you may have heard that the city passed certain mandatory earthquake safety standards. At the moment, changes are only required for buildings containing more than 3 dwelling units. However, although single-family homes are exempt from the city requirements, it doesn’t mean you should neglect to make improvements!
According to the California Earthquake Authority (CEA), any homes built before 1980 are considered particularly vulnerable to earthquakes. Foundation retrofitting can help you invest in your safety while qualifying for a substantial reduction in your earthquake insurance premiums. This reduction means that (in some cases) retrofitting will pay for itself through savings over time.
The cost of retrofitting a foundation depends largely on the size of the home, the amount of work required, the materials needed, and the location of the house. According to the CEA, homeowners can reduce their premiums by as much as 25% by completing a qualifying retrofitting project.