Earthquake Insurance

While most people have several types of insurance policies, not everyone thinks of purchasing earthquake insurance. This is a type of insurance, however, that can be extremely valuable in the case of an earthquake. Since other types of insurance seldom cover earthquakes, you should consider purchasing a separate policy for this type of disaster.

People who live in areas where earthquakes are common, such as California, understand the risk of earthquakes. The fact is, however, that earthquakes can occur in many other regions as well. The U.S. Geological Survey warns that Americans in 39 states face the risk of earthquakes. While the odds of this happening are greater in some regions than others, do you really want to gamble with the future of your home?

Even in states such as California, where earthquakes are common, only a small minority of homeowners opt for this type of insurance. Apparently, many people are content to play the odds and hope that a severe earthquake never damages their homes. An earthquake can be anything from a mild tremor to a devastating event. A serious earthquake can do major harm to your home and property. Without an insurance policy to cover this damage, you will have to cover the cost of any repairs yourself. That’s why purchasing an insurance policy can be a wise decision.

If you are considering this type of insurance, you should know exactly what the policy covers. Your insurance agent can clarify this for you. Keep in mind that earthquakes can do indirect as well as direct damage to your home and property. For example, earthquakes can set off floods, tidal waves or typhoons. An insurance policy that covers earthquakes might only cover the direct damage done by an earthquake. You may need additional coverage if you want to be protected against such secondary disasters.

Earthquake insurance can help protect you against a natural disaster that has the potential to do a great deal of damage to your home. Its a policy worth considering if you live in an area that faces any risk of earthquakes. An insurance agent can help you find the type of policy that best suits your needs.