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Earthquake Insurance

Imagine everything you own from your house to your possessions to your car being taken away in one earth shaking moment. If you think your homeowners insurance covers earthquake loss and damage, think again.

While homeowners insurance covers some nature-related perils, it does not cover major loss or damage from earthquakes and floods. Those require separate insurance policies. It’s true that in some high-risk earthquake areas, the state can provide some special assistance. So can the federal government. But the extent of that assistance is limited and not designed to cover total loss.

Here are some factors that are taken into consideration when writing earthquake insurance policies:

  • Building materials used to build the house
  • Year the house was built
  • Fault line proximity
  • Home equity

Earthquake insurance is an important policy to consider, especially in areas that experience frequent earthquakes.

To find out more about this policy, contact the insurance professionals at Loughlin Financial Group.

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