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Living in an Earthquake Prone Location – What Does it Mean?

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Living in an earthquake prone location can be somewhat scary, especially if you’ve never experienced an earthquake first hand. Your most valuable asset, your home, is also the most vulnerable to damage from an earthquake. But with the right precautions and preventative measures, you can live in relative safety and peace of mind knowing that your insurance policy will cover most of the cost of repairs after an earthquake hits. Before reaching out to the best homeowners insurance companies in California, consider learning more about earthquake insurance and why you might need it.


Living in an Earthquake Prone Area

According to the U.S. Geological Survey, California is one of three states that are at high risk for earthquakes, along with Alaska and Hawaii. This means you need a home insurance policy that covers damage from natural disasters and their possible effects on your property or belongings.


If you live in California, there’s a good chance that your homeowners insurance policy doesn’t cover earthquake damage. This is why so many Californians fail to purchase earthquake insurance on top of their standard home insurance. It can be confusing and difficult, but don’t make yourself another statistic!


Is My Home Covered by Insurance?

If you live in an earthquake prone location, or if you’re unsure whether your homeowner’s insurance policy covers earthquake damage, check with your agent. If they do not cover losses resulting from natural disasters, now is a good time to explore alternative options. You may want to consider investing in either home insurance or homeowners insurance and earthquake insurance (homeowners are eligible for separate coverage of earthquakes) together. The coverage provided by both policies will help protect your residence against damages during natural disasters such as earthquakes or hurricanes.


Is Earthquake Insurance Included in My Homeowners Insurance Policy?

Although more than 100,000 earthquakes occur every year and large quakes occur regularly, only about 20% of homeowners are actually covered for earthquake damage by their standard home insurance policy. This is because most homeowners policies do not cover earthquake damages; so if you live in a region prone to earthquakes you need additional insurance to cover potential damage from earthquakes. In fact, about half of all home loss claims are due to damage from earthquakes.


When Do I Need to Buy Earthquake Insurance?

When you live in a high-risk area, such as California or Alaska, you should purchase earthquake insurance. Don’t wait until a big quake hits—if a catastrophic earthquake happens while you are uninsured, your bank account and credit card limits will be obliterated by your insurer’s large payout requirements. It may be easy to ignore earthquake insurance when things are going well, but having coverage can make all of the difference when disaster strikes. Contact a Get-a-Quote professional to help you find the best homeowners insurance companies in California and insurance policy that suits your living situation today.


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