Most people do not even consider earthquakes, unless they live in an area where they are common. Unfortunately, most homeowners insurance policies do not cover the damage that can be caused by this type of catastrophe, which is why it is essential to buy earthquake insurance if it is needed.
While no one knows if an earthquake is going to happen, if you own a building or a home in an earthquake zone, you know that it has happened before. Even if it is just a vacation home, all it takes is one small tremor to cause the entire building to collapse. That is why you want to consider earthquake insurance.
This type of insurance plan is much like other styles of homeowners insurance. The insurance adjuster will come out and look at the damage that you have to determine if it was earthquake caused. Any damage to your home or building due to an earthquake will be covered, after the deductible is taken care of.
While the coverage pays for the structure of your home or business, it can also cover injuries and personal items as well, if the damage was due to an earthquake. The coverage for personal items and medical bills cost a little more, but can be added to your earthquake coverage.
Benefits to having earthquake insurance are very easy to see. Protecting your asset of a building or home is important, as it can be a financial catastrophe to have to pay for rebuilding or repair. It is irresponsible to not have earthquake coverage if you live in an earthquake zone, as your regular policy will not cover this type of damage.
While you may not know when or if an earthquake will occur, if you live in an area that has them or has had them, you want to be sure that you look into getting coverage. A building or home in the earthquake zone can be at risk at any time. If you want to protect your assets for the future, earthquake coverage is the smart thing to buy for your future and the future of your family.