Earthquake Insurance Protects from Earthquake Loss
Earthquakes in California are a part of life, but they occur in other parts of the United States, too. You may not live in an earthquake area, but you could be surprised if you look at an earthquake zone map. A place may not have many or any earthquakes, but that doesn’t mean it’s not an earthquake area. It all depends on underlying tectonic plates in the area.
Homeowner’s insurance does not include earthquake damage. If you own a home, condo, or apartment in an earthquake zone, then you should consider earthquake coverage. Basic coverage provides financial assistance for direct damage to the property, if it was caused by an earthquake. You are responsible for a deductible before the policy pays anything, so this means you are responsible for some of the repair costs. A basic policy may not offer coverage to additional structures or furnishings, so additional coverage may be necessary.
Supplemental policies add more depth to protection, and can include coverage for things like your pool, patio, furniture, and clothing. Living expenses when you are unable to live in your home can also be included.
Your place of residence affects the premiums. People in earthquake zones pay a higher premium, but a person with a wooden framed home might get a discount rate over the rate for a brick home. Contacting an insurance professional is the way to make sure you receive good coverage with all benefits.
Homes damaged by earthquakes usually need huge repairs, which results in high costs. Financial relief provided by insurance allows you to rebuild your residence and your life. Some government programs are available to help with earthquake damage, but having to depend upon them can be troublesome. Talk to an insurance agent today to find suitable earthquake insurance.