Earthquake Insurance

An earthquake leaves massive devastation in a matter of just some seconds. Despite this frightening truth, not very many people consider purchasing earthquake insurance, even those who live earthquake zones. However, this kind of insurance could be an absolute financial life-saver in the case of a significant seismic event.
Those who call places like California home, places where seismic activity is a more common occurrence, certainly understand the inherent risk of earthquakes. The wakeup call is that earthquakes can happen at any time in many other regions across America. According to the U.S. Geological Survey, Americans in a surprising 39 states face the possibility of going through one.
Earthquake insurance protects the policyholder if an earthquake strikes resulting in damage to property and/or personal belongings. It is quite separate from regular homeowners insurance, which does not cover earthquake damage. In order to obtain the protection of earthquake insurance, a homeowner must deliberately request a policy.
Most earthquake insurance policies are characterized by their high deductibles. This keeps premiums reasonable and these policies can be very beneficial if the home sustains a great deal of damage in the event of an earthquake. However, in the event of small and minor damage, it is not justifiable to request help with the higher deductible.
Rates for earthquake insurance are determined by factors such as the likelihood of your area having an seismic event, or how and with what materials the home was constructed. Wood construction, for example, can withstand more damage and, as a result, the policy holder can enjoy lower rates.
Some earthquake insurance offerings are less expensive though with more minimal coverage. Other policies have more comprehensive and extensive coverage for higher premiums.
There are some considerations to ponder in purchasing earthquake insurance coverage. First, it is important to know the replacement value of your belongings should an earthquake cause their loss. Secondly, know what living expenses you are likely to incur should you need to evacuate your home following an earthquake.
Being prepared for any possibility of harm or loss to your family can include earthquake insurance. A policy can help you avoid financial ruin and get you back on your feet more quickly following a devastating earthquake.