Here are a couple of things to think about when it comes to earthquakes and your home:
For many of our clients, earthquake insurance can be inexpensive. To find out what it would cost to get your home covered, contact us.
Earthquake coverage can be purchased as an endorsement or a separate policy and you may be able to purchase earthquake insurance from the same company that provides your home insurance.
Earthquakes have occurred in 39 states since 1900, and about 90% of Americans live in areas considered seismically active.
In all likelihood, almost the entire US would be better protected by purchasing earthquake insurance.
In the West - According to the U.S. Geological Survey, there is a 70% probability that one or more damaging earthquakes of magnitude 6.7 or larger will strike the San Francisco Bay area during the next 30 years.
In the East - The Earthquake Education Center at Charleston Southern University claims there is a 40% to 60% chance of a major earthquake somewhere in the eastern United States in the next 20 years.
In the Midwest - According to the Insurance Information Institute, there's a 40% to 63% chance the New Madrid Fault (which runs through Arkansas, Kentucky, Missouri and Tennessee) region will suffer an earthquake with a 6.0 magnitude in the next 15 years.
Earthquake insurance provides coverage if your home is damaged by an earthquake. An earthquake endorsement generally excludes damages or losses from floods and tidal waves – even when caused or compounded by an earthquake.
There are several options to consider when purchasing earthquake insurance, including:
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