California households are not prepared for the next big earthquake -- insurance-wise.
During the next big quake, "billions of dollars in damages" won't be covered by insurance, according to Bloomberg.
Risk Management Solutions, a "catastrophe modeler," says that 10 percent of California households have earthquake insurance, the report said.
Only $960 million of Loma Prieta's $6 billion in damages were insured, the news source noted.
In Napa, where a quake just caused $2 billion in damage, only 5.3 percent of households had insurance, according to the report.
