Tel. 1-800-462-2604

Pay by credit cards to buy Insurance.

 

Earthquake Insurance At Affordable
Prices!

 
Earthquake damages
 
Eartquake damages
Residential
 
Commercial
 
Single Family Dwellings
Condominiums
Townhouses
   
Retail Stores
Appartment Buildings
Condo Associations
Office Buildings
Wholesale Stores
Industrial Buildings
 
  Free Quote  
   
Basics information of Earthquake Insurance
When considering earthquake insurance you must keep in mind that basic homeowner’s insurance does NOT cover earthquake damage.

This means that when considering earthquake insurance the major factor should be the point at which a lack of coverage will create a financial burden on the homeowner. This equates to an individual financial decision based on the point where repairing or rebuilding your home becomes too large a financial responsibility. You should keep in mind the value of the home and the probability of an earthquake in your area.

A simple rule to follow is to never risk more than 10% of your liquid assets. While damages resulting from a minor earthquake can often be covered without earthquake insurance, the potential damage that would result from a major earthquake represents more than 10% of most people’s liquid assets.
Earthquake insurance represents a very unique and specific coverage. Understanding the details of your earthquake insurance policy is very important. To help you gain an understanding of these policies, or for more information on earthquake insurance, visit our specialist site below.

Who need earthquake insurance?
People living in USA and specially in California frequently purchase earthquake insurance. In this area there is a 70 percent chance that a damaging earthquake with a magnitude of 6.7 or higher on the Richter scale will strike within the next 30 years. To envision a 6.7 earthquake, take the 1994 Northridge earthquake that killed 57 people and caused over $20 billion in damages for example. By looking at the simple numbers it is easy to see that people who wish to protect their possessions and property in any area where a quake may hit are buying earthquake insurance.

What cover by earthquake insurance?
Your earthquake insurance policy should cover the replacement or repair costs of your damaged property.

When looking at your specific needs and the coverage options available, be sure to examine the following:
  • Does the earthquake insurance policy cover only the dwelling or does it incorporate accessory structures as well?
  • Will the earthquake insurance policy cover all the contents of your home and any additional living expenses you may incur if your home is destroyed?
How much earthquake insurance coverage should I buy?
Remember when purchasing earthquake insurance the major factor is that your policy affords you the ability to rebuild your home and replace damaged possessions. Also keep in mind the value of your earthquake insurance coverage should cover the actual costs associated with replacing or reconstructing your property, not just the market value of your property and possessions.
What is the cost of earthquake insurance?
Each insurance company determines their own rates for earthquake insurance, which can depending on several key factors. Earthquake insurance premiums for older homes typically cost more than newer ones, while the premiums for wooden homes tend to be lower than brick ones, as wood takes the stress and movement associated with an earthquake better than brick structures.

Geographic location also plays a role in determining earthquake insurance rates. Areas of the country are divided into scales from 1 to 5 in accordance with the likelihood of an earthquake. Earthquake insurance rates are calculated with this geographical data in mind. As earthquake insurance represents a type of catastrophic coverage, most policies carry high deductibles of anywhere from 10 to 20 percent of the coverage limit.
*The above information was provided for information purpose only.
 
 
timer