There are nearly 200,000 earthquakes every year, most of which occur in 42 at-risk states. While most earthquakes are unnoticeable and result in very little if any damage, they can also lead to catastrophic damage. Your homeowners insurance likely does not cover earthquake damage. If you live in an area at risk of earthquakes, separate earthquake coverage is a cost-effective way to protect your home and belongings in the event of a disaster.
Do You Need Earthquake Coverage?
Earthquakes can happen in any state, but some areas of the country are more prone to earthquakes. If you live in a high-risk area, particularly the Western and South Central regions of the country, earthquake coverage can be a wise investment. This form of coverage protects you if you need to replace belongings damaged in an earthquake, rebuild or repair your home following a disaster, and even pay for temporary housing when structural damage makes your home inhabitable.
If you own your home, your dwelling coverage limit will usually be the same for earthquake coverage as home insurance.
What Does Earthquake Insurance Cover?
Earthquake coverage offers valuable protection in the event of an earthquake by paying for:
Your belongings, including furniture, clothing, and electronics
Repairs to your home and attached structures like a garage
Rebuilding your home in the event of severe damage or destruction
Additional living expenses if you are unable to live in your home during repairs
Your policy can also be customized with additional coverage for emergency repairs, land restoration, building code upgrades, debris removal, and additional structures like a tool shed or carport.
How Your Coverage Works
An earthquake policy is a bit different than a home insurance policy as it will have a high deductible that is subtracted from your claims check. Depending on your policy, your deductible may be 5%, 10%, or 20% of your dwelling coverage limit. Some policies also use separate deductibles for personal property and dwelling coverage.
If you live in an area at risk of earthquake, earthquake coverage is a cost-effective way to protect your home and ensure you have the means to live if your home needs to be repaired or rebuild. Contact us today for a free quote on earthquake insurance to give you the coverage you need.