You might think an earthquake event would be covered by your homeowner’s insurance, but that’s not the case. The vast majority of policies specifically exclude it, mainly because it’s a low-risk event, which means any payout is likely to be extremely high.
The good news is that you can buy specific earthquake insurance to cover damage and destruction to both your home and your building. Generally, the deductible is far higher than with ordinary household insurance.
Depending on your location, you may need to shop around for earthquake insurance.
The cost of earthquake insurance depends on your specific location, the value of your property and the materials it is built from.
For more details about your earthquake insurance options, contact us today.