Does My Homeowner Insurance Cover Earthquakes?
You might think your homeowner policy covers an earthquake, however earthquakes are excluded from your homeowner policy. Earthquakes and flood coverage are excluded from your homeowner policies, but you can purchase a specific policy to cover the peril of earthquakes.
How Much Does Earthquake Insurance Cost?
Cost of earthquake insurance varies depending on where you live and if you are near a known fault line. It can be relatively inexpensive if you live in an area not known for earthquakes and not near a fault line. Otherwise, it can be expensive if you live in an area prone to earthquakes. Checking with your agent and they can gather the information they need to give you a quote on a policy specific to your location.
What Does Earthquake Insurance Cover?
Coverage might vary among carriers, but most will cover structural damage, temporary housing, and personal property. Deductibles are usually higher than your homeowner policy and can range into the thousands of dollars are a percentage of your homes listed value. Some policies will require an inspection before the purchase of an earthquake policy along with a period of time before the policy can take effect.
If you have additional questions, please give our office a call and our agents will be glad to assist you with your questions.
Covering Greensboro, Kernersville, Madison, Mayodan, Winston Salem, Oak Ridge, Summerfield, and all of North Carolina.