Earthquake Insurance

What Is It?

Earthquake policy protection can greatly assist one in recovering from the losses that can happen as a consequence of an earthquake. Policies can be had by homeowners, renters, and owners of businesses. These plans are designed to provide the requisite funds to accomplish repair work and for such added assistance as receiving lodging during the time in which the repairs are being made.


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Types of Policies

Earthquake policies can be broken down into three areas:

1. Dwellings
Homes, condos, and so on are protected up to a certain amount. The structure itself is what is protected here and other parts of the property, such as sheds, detached garages, pools or outdoor barriers are excluded. However, keep in mind that additional protection can be purchased for such structures.

2. Personal Belongings
This protection can be extended for one’s personal belongings, such as valuables, antiques, art, and televisions inside your home. Easily breakable items, like delicate china, will not fall under the protection provided unless you purchase an additional policy for breakables.

3. Living Costs
Should a tremblor destroy your home, you’ll be in need of a place to rest your head while the repairs are being attended to. This kind of coverage is referred to as “loss of use” protection. It can pay out funds to purchase temporary lodging if your home is declared seriously damaged or if an evacuation has been ordered to vacate the area. In addition to paying for temporary lodging, it also provides payment for any necessary meals, moving charges, laundry services, and the like. Keep in mind, though, that this coverage will not remain in effect for perpetuity. Depending on your plan, the total amounts paid out can vary from $1,500 to $100,000.

Major Benefits

The big plus in having earthquake insurance protection is the peace of mind in knowing that you are fully prepared should the inevitable ever occur. With hope, one will be spared from such a major life disruption and drama. Few will ever have to live through and deal with the after-effects of a large quake, but it’s a relief to know you and your family are financially protected should disaster ever strike.