China launched an earthquake catastrophe insurance system for urban and rural residential buildings in 2015. Earthquake catastrophe insurance had provided a total of 791.8 billion yuan (RMB, the same below) of catastrophe risk protection for 21.34 million households, with compensation funds exceeding 100 million yuan.
China's catastrophe insurance coverage has basically achieved full coverage of common natural disasters in the entire region. Each household can refer to the market value of the house and negotiate with the insurance company as needed to determine the insurance amount. The maximum amount shall not exceed 1 million yuan per household.