REALITY: Insurers pay the vast majority of homeowners’ catastrophe losses. The bulk of government disaster assistance from FEMA goes to public infrastructure and local governments, not individuals.

• Additionally,a comparison of FEMA and private market insurance payments for U.S. earthquakes from 1994 through 2006 reveals insurers paid out $17.3 billion while FEMA paid out $205 million in relief to public entities and about $86 million to individuals.