Don't leave everything to chance; keep yourself protected with an insurance
While you can’t plan for earthquakes, you can be prepared — and that can make all the difference. Earthquake coverage can help cover your finances if something happens to your home, condo or rental unit. Because damage from earthquakes isn’t typically covered under standard homeowners, condo or renters policies, it’s key to get coverage even if you’re not living in California or Hawaii.
Earthquake insurance covers damage to your home, personal belongings and additional living expenses if you need to temporarily live somewhere else after an earthquake. Standard homeowners and renters insurance policies typically don’t include earthquake coverage, but you may add it to an existing homeowners insurance policy as an endorsement or purchase it as a separate policy.
Dwelling coverage
Earthquake can damage your home and internal structures in your home. If you don’t have a coverage, you need to pay for repairs from your own pockets.
This coverage accounts for the rebuild or repair cost of the home and other structures on the property in the event of earthquake damages.
Personal property Coverage
Earthquake can cause damage to your interior furniture & fixtures and you are bound to pay for their replacement.
If your personal property, like furniture, electronics or other valuables are damaged in an earthquake, this has you covered up to certain limits.
Additional living expenses Coverage
By the time your house is under repair, you need another house to stay or you need to stay in a hotel. If you don’t have enough coverage, you would need to pay the accommodation expenses all by yourself.
This coverage pays additional living expense costs needed if you are required to live elsewhere temporarily due to earthquake damage to your home.
Cherished Salvage Coverage
Your classic vehicle is totaled by a problem that’s covered by the policy (like a car accident or flood) and damages your vehicle.
With this coverage, you’ll have the right to keep the salvaged car and still get a pay-out from the car insurance company (minus your deductible).
Spare parts and automotive tools coverage
You take your classic car to the service station and they ask you to replace some damaged spare parts with the new ones.
This covers spare parts and personal tools used to maintain or restore your classic car. Some auto insurance companies might cover spare parts even if they are not intended for the vehicle on the policy.
Standard homeowners insurance policies generally don’t cover damage from earthquakes and floods. That’s why people buy separate earthquake insurance – or flood insurance if you live in an area prone to those disasters. Here are some things covered by earthquake insurance once you’ve paid your earthquake deductible:
Earthquake insurance is worth it if you live in a high-risk area
We don’t think the unthinkable will happen until it does. But the very essence of insurance is to help us be prepared for the unthinkable and to lower our financial burden of losses. Earthquake insurance is no exception. Adding an earthquake endorsement to your homeowners insurance policy will help to protect you from minor or catastrophic losses resulting from an earthquake. If you live near an active fault line or in a high or moderate risk area, earthquake insurance may be essential to your peace of mind.
Call us now to know more about Earthquake insurance.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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