Earthquake Insurance

Unless you live near a fault line, you may not think about the need for earthquake insurance. However, just because you are not squarely in earthquake country does not mean that you may not sustain some damage from shifts in the earth’s crust. Here are some types of earthquake insurance that you may want to consider if you are within reasonable range of earthquake country.

California earthquake insurance options, obviously, will tend to be quite comprehensive in the coverage they provide. While extremely expensive, the cost of the insurance can be made worthwhile by one simple earthquake. Of course, providers of earthquake insurance will also have stringent earthquake insurance requirements, such as certification that the building is constructed to meet standards. Thus, not every building is eligible for earth quake insurance, even if the structure has made it through a couple of earthquakes.

Earthquake insurance can come in two forms. You can have home earthquake insurance that is a part of your homeowner’s policy, or you can have stand alone earthquake insurance. There is some debate as to which is the better option. One school of thought says that if an earthquake does occur and your coverage is through your homeowner’s policy, the premiums will increase drastically afterward, impacting the ongoing cost of protecting your home from all types of issues. Stand alone earthquake insurance would increase as well, but possibly not have the financial impact on you that an increase on the homeowners policy would do.

Earthquake insurance is available for both private residences and businesses. Commercial earthquake insurance can have your business up and running in a short period of time. Earthquake insurance for condos and houses will often help pay for lodgings while your home is being assessed and hopefully approved for repair. The combination of earthquake + insurance is much less a scary proposition than an earthquake alone, as the insurance at least helps to trigger some hope after the disaster has struck.

When it comes to the question of should I buy earthquake insurance, no one can answer that but you. If there is a real chance of being impacted by an earthquake, it is certainly worth looking into. Gather earthquake insurance quotes and compare them, both the cost and the amount of coverage. You may find that earthquake insurance would be a wise investment for you. After all, it only takes one time for the earthquake insurance to pay off in a big way.