Some may think that the usual homeowner’s policy covers damage from an earthquake, but this is flat wrong in the vast majority of instances. To be protected, you need to purchase a separate policy for seismic events.
Living in regions that are active seismically really requires earthquake insurance coverage if you would like to be fully protected and live in one of these areas feeling the peace of mind that this vital coverage provides.
The kind of coverage you buy is affected by several factors, such as whether you rent or own the property that you call home. For a renter, one only requires coverage to protect personal belongings that are inside the apartment or house, while a homeowner needs a policy that also covers the structure and belongings both. Some policies even pay for hotel stays should you be put out of your home as a result of a temblor.
Many insurance companies offer earthquake coverage riders (additional coverage) along with your regular homeowner’s insurance. If you are a renter, a separate policy may be more appropriate. It is always most important to keep in mind that if have damage from a quake, only a specific earthquake policy is going to compensate you for any damage. If you are in an area where quakes are more common, insurance to cover this risk can be a great idea.
There are some instances in which you can save significant money on an earthquake policy. For example, if your house is wood-framed, you may be entitled to a discount simply due to the fact that wood is flexible and moves with the quake, hence resulting in less of a risk for major damage. Some homes have been constructed with specialized features that make the structure more resistant to damage as a result of an earthquake, again resulting in possible savings.
To cover one of life’s major investments, an earthquake insurance policy is essential. Your home is safe and your family can rest assured that help is available if an earthquake causes damage that ordinarily would be budget-busting. Protect your financial future with an earthquake insurance policy- Call today for more information.
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