GeoVera Earthquake Insurance: What the SageSure Changes Mean for Washington Homeowners

The earthquake insurance landscape in Washington just went through a major shake-up, literally and figuratively. If you have earthquake coverage through GeoVera or you're shopping for it, you need to understand what the SageSure acquisition means for your coverage and your wallet.

In January 2025, SageSure completed its acquisition of GeoVera Advantage Insurance Services, the managing general agent (MGA) that handles earthquake insurance underwriting. This wasn't just a simple buyout: it was a strategic restructuring that affects how earthquake insurance operates in Washington state.

Breaking Down the Big Changes

Here's what actually happened: SageSure bought the earthquake underwriting business from GeoVera, while GeoVera's insurance carrier operations got spun off into a new company called GeoVera Nova Holdings. Think of it like splitting a restaurant chain: the recipe and kitchen staff went to one company (SageSure), while the restaurant buildings went to another (GeoVera Nova).

The good news? All 114 employees from GeoVera's underwriting team joined SageSure. This means the same people who knew your earthquake risk profile yesterday are still handling it today: just under a different company name.

The timeline moved fast. SageSure announced the deal in April 2024, and everything wrapped up by January 2025. For Washington homeowners, this transition was designed to be seamless, and early reports suggest it has been exactly that.

What This Means for Your Current Coverage

If you already have earthquake insurance through GeoVera, relax. Your policy didn't disappear overnight, and you don't need to scramble for new coverage. The same underwriters, claims adjusters, and product specialists are handling your account: they just answer to SageSure now instead of GeoVera.

Your coverage terms haven't changed. Your deductibles are the same. Your premium payment schedule continues as before. The only difference you might notice is some updated branding on your renewal notices and correspondence.

SageSure has confirmed that all existing policies will continue under the same terms and conditions. If you have a claim, the same experienced team that would have handled it under GeoVera will process it under SageSure.

Why SageSure Wanted GeoVera's Earthquake Business

SageSure didn't spend millions just to add another line item to their portfolio. They specifically wanted GeoVera's earthquake expertise to expand their catastrophe insurance capabilities in the Pacific Northwest.

Washington sits on some serious seismic risk. The Cascadia Subduction Zone could produce a magnitude 9.0+ earthquake, and the Seattle Fault could generate significant damage in the Puget Sound region. SageSure recognized that earthquake insurance in Washington isn't just a nice-to-have product: it's essential coverage that requires specialized knowledge.

GeoVera built that specialized knowledge over years of underwriting earthquake risk in California, and now SageSure plans to leverage that expertise to better serve Washington and Oregon homeowners.

Coverage Options Under the New Structure

The earthquake insurance products available to Washington homeowners remain robust. SageSure continues offering the three main coverage structures that GeoVera provided:

Single Limit Coverage gives you one combined limit that covers your dwelling, personal property, additional living expenses, and other covered items. This option offers flexibility in how you use your coverage limits.

Split Limit Coverage provides fixed limits for each category of coverage. Your dwelling has one limit, your personal property has another, and additional living expenses have their own allocation.

Flex Limit Coverage lets you customize the limits for each type of coverage based on your specific needs and budget.

All three options include essential protections like dwelling repair or replacement, personal property replacement, temporary living expenses if your home becomes unlivable, coverage for detached structures like garages, building code upgrade costs, and debris removal expenses.

What's Different About Earthquake Insurance

Standard homeowners insurance doesn't cover earthquake damage. Period. If the ground shakes and damages your home, your regular policy won't pay a dime. This makes standalone earthquake insurance crucial for Washington homeowners.

Earthquake policies typically come with percentage-based deductibles rather than flat dollar amounts. You might see deductibles of 10%, 15%, or 20% of your dwelling coverage limit. On a $400,000 home with a 15% deductible, you'd pay the first $60,000 of earthquake damage yourself.

The coverage also differs in timing. While your homeowners policy might pay claims within weeks, earthquake claims can take longer due to the complexity of damage assessment after major seismic events.

Enhanced Capabilities Under SageSure

SageSure brings additional resources to earthquake insurance in Washington. As one of the largest underwriters of catastrophe-exposed property risk in the United States, they have sophisticated risk modeling capabilities and strong financial backing.

This enhanced capability could translate to better pricing models, more accurate risk assessment, and potentially more coverage options for Washington homeowners. SageSure's broader experience with hurricane, wildfire, and flood risks gives them a comprehensive view of catastrophe insurance that could benefit earthquake coverage.

The company also has established relationships with reinsurers: the insurance companies that insure insurance companies. Strong reinsurance partnerships help ensure that coverage remains available and affordable even after major catastrophic events.

The Carrier Partnership Structure

Here's where it gets a bit technical, but it matters for your coverage security. GeoVera Nova Holdings now owns the actual insurance carriers that issue earthquake policies: GeoVera Insurance Company, GeoVera Specialty Insurance Company, Coastal Select Insurance Company, and SafePort Insurance Company.

These carriers maintain their AM Best "A" (Excellent) ratings, which indicates strong financial stability. SageSure serves as the program administrator and underwriter, while these carriers provide the financial backing for claims payments.

This partnership structure actually strengthens the earthquake insurance market in Washington by combining specialized underwriting expertise with strong carrier financial capacity.

What to Expect Going Forward

SageSure has indicated plans to expand earthquake insurance availability in Washington and Oregon. This could mean more competitive pricing, additional coverage options, or expanded eligibility for properties that might have been difficult to insure previously.

The company's broader catastrophe experience might also lead to innovative coverage features. For example, SageSure has experience with parametric insurance products that pay claims based on the magnitude and location of earthquakes rather than individual property damage assessments.

Getting the Right Earthquake Coverage

Whether you're shopping for new earthquake insurance or reviewing your existing coverage, the SageSure transition creates a good opportunity to evaluate your earthquake risk and coverage needs.

Consider your home's age, construction type, and location when determining coverage limits. Older homes and homes built on certain soil types face higher earthquake risk. The proximity to known fault lines also affects your risk profile.

Review your deductible options carefully. Lower deductibles mean higher premiums but less out-of-pocket cost when you file a claim. Higher deductibles reduce your premiums but increase your financial exposure.

How Insurance Alliance LLC Can Help

Navigating earthquake insurance options and understanding the impact of industry changes requires local expertise. Insurance Alliance LLC helps Washington homeowners evaluate their earthquake risk and find appropriate coverage at competitive rates.

Our team stays current with industry developments like the SageSure-GeoVera transition to ensure our clients understand how changes affect their coverage. We work with multiple earthquake insurance providers to find the best fit for each homeowner's specific situation and budget.

Contact Insurance Alliance LLC to review your earthquake insurance options and ensure you have adequate protection for your Washington home. Our local knowledge and industry relationships help you make informed decisions about this critical coverage.

The SageSure acquisition of GeoVera's earthquake operations represents positive changes for Washington homeowners: enhanced capabilities, continued expertise, and strengthened financial backing for earthquake coverage. Understanding these changes helps you make the best decisions for protecting your home and financial security.