Earthquake Insurance

Insure Your Home From Earthquakes

There are more than a million earthquakes per year. Most people are shocked by that statistic. They think of earthquakes as rare events that only occur in high risk areas. But the reality is that there are earthquake tremors all the time, everywhere. Its just that most tremors can’t be felt by humans. On the news, we only hear about the earthquakes that are large enough to be felt, and especially those that cause substantial destruction. With earthquakes being everywhere, how can you be sure that one of them will not become severe and wreak mayhem in your neighborhood?

You can’t. Earthquakes can happen anywhere, anytime. The best way to protect yourself from this mayhem is to buy earthquake insurance. This coverage is not standard in homeowners insurance policies. Most policies have an optional provision for earthquake coverage. The premium cost depends on several factors. First, location. Anyone in an earthquake prone area, like California, will have a larger premium than a person living in a place where earthquakes are rare, like the Midwest United States. The value of your home is also an important factor. What surprises some people when they buy earthquake coverage is that the type of home they live in has a substantial impact on their premium cost. Brick houses are usually more expensive to insure than wood houses, because wood houses stand up better to mother nature’s unruly rumblings.

Despite the fact that earthquakes can cause enormous damage, destroying an entire house and all its contents, most people do not have earthquake insurance. Even in earthquake prone California, only 12% of homeowners have the coverage. This is a mistake. If you live in a place like California, where a major earthquakes are predicted to occur in our lifetime, earthquake insurance is a necessity. Even if you live outside an earthquake prone area, earthquakes still occur, and without the coverage, you could stand to lose your home and valuables. Earthquakes can be mother nature’s worst mayhem. If you live outside an earthquake prone area, and certainly if you live in one, protect yourself.