Who Needs Earthquake Insurance?

Earthquakes are among the world’s most devastating and costly natural disasters. For homeowners in the United States, these seismic events inflict millions of dollars in damage every year. Furthermore, earthquakes often occur without warning; the ground begins to shake, and within minutes, your home could be leveled and your life turned upside down. This inherent and underlying threat, therefore, necessitates planning ahead, such as by understanding and securing earthquake insurance.

What Is Earthquake Insurance?

As its name suggests, this type of coverage can offer specialized financial protection against earthquakes and resulting damages. Earthquake insurance may be available as an endorsement or a separate policy. Working with a qualified insurance professional, such as those at Farrell Insurance Agency, can help you explore options and find the best coverage for your situation.

Is Coverage Required?

There are no laws requiring earthquake insurance, but some mortgage lenders may require coverage if you live in an area at high risk of seismic activity. Regardless, coverage should still be a top priority for anyone living in certain areas prone to earthquakes, such as California and the Pacific Coast. Payouts can make all the difference in managing the financial ramifications and aftermath of these events; those without coverage may face massive out-of-pocket costs while trying to rebuild their lives. Standard home insurance usually excludes earthquakes, meaning that without enhancing your coverage, you may be on your own.

What Can My Policy Cover?

Earthquake insurance may offer multifaceted coverage for you and your home, including potentially helping to pay for the following:

• Structural damage, such as to roofs, foundations, walls, and plumbing and electrical systems

• Personal property losses, such as those involving furniture, electronics, appliances and other contents of insured buildings

• Additional living expenses, such as hotel accommodations if you cannot live in your home after an earthquake

How to Get Earthquake Insurance Near Me

Contact Farrell Insurance Agency in Palm Desert, California, to learn more about earthquake coverage and get a free quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.