Do you need earthquake insurance?

Earthquake Insurance

Your home is more than a roof over your head. Much more. It’s the center of your family’s life and your largest investment, so make sure it’s well-protected. And if you live in California, your home is in one of the most earthquake-prone areas in the country. You already protect your home equity from fire, theft, and wind damage, why not earthquakes?

Earthquake damage is not covered in the typical homeowner’s policy. Earthquakes with magnitudes greater than 6 can cause significant damage to homes and other property as well as injuries and even loss of life. Earthquake insurance will cover damage to your dwelling and its contents caused by damage from an earthquake such as walls that collapse or valuables that are destroyed inside your home. However, some damages may not be covered, such as any flooding that may result. This will depend on the language of the policy. You should always discuss your policy with your insurance consultant and read it carefully.

Don’t make the mistake of thinking that you can rely on government disaster assistance to help you recover losses from an earthquake. Government disaster programs, such as FEMA, are designed to take care of immediate needs such as food, clothing, medical assistance, and temporary shelter. However, rebuilding your home and replacing your contents is up to you.

Earthquake insurance policies are available for homeowners, condo unit owners, mobile homeowners, and renters. You can choose the amount of coverage you need as well as deductible options.

How much earthquake insurance you need will depend on your individual situation including the cost of rebuilding your home should you suffer a total loss and replacing its contents. Take an inventory of your contents and valuable items to determine the dollar amount you would need to replace them. If you don’t know the value of your home and contents, it’s a good idea to have an appraisal done to make sure you’re not underinsured. In addition to rebuilding your home and replacing its contents, you’ll also need coverage for additional living expenses such as temporary lodging and food while your home is being repaired or rebuilt.

Contact Apollo Insurance Services at 800.426.1088, option 2 for a free, no-obligation quote on earthquake insurance or click here.


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