What would happen to your home and possessions if they were damaged by
an earthquake? If you think that your
homeowner’s insurance policy will protect you, think again. Earthquake damage is not covered under
homeowner’s policies, which means you could be facing significant
financial disruption should a quake occur. Don’t wait until an earthquake
happens to learn about insurance coverage. Here’s what you need to know.
Every Home Is at Risk of Quake Damage
In California, earthquakes are a part of life, and all homeowners should
consider buying earthquake policies. However, earthquakes can happen anywhere,
and no homeowner should discount the possibility that they could face
damage caused by a quake. Earthquake insurance can be a good investment
for all homeowners.
Deductibles Are Based on Your Policy Limit
With most insurance policies, your deductible is a pre-set amount that
you must pay before your insurance kicks in. For instance, with auto insurance,
if you have a $500 deductible and make a claim, you pay $500 and your
insurance covers any remaining cost for your repair or for replacing your
car. Earthquake insurance works differently. Your deductible is set as
a percentage of your overall homeowner’s insurance policy coverage.
If your house is insured for $250,000, for instance, than your
earthquake insurance deductible may be 20 percent of $250,000.
There Are Coverage Exclusions
All homeowner’s insurance policies have coverage exclusives, but
earthquake policies typically exclude more things. Most earthquake policies
don’t cover damage to structures that are separate from your home,
like garages, or to landscaping and outdoor fencing. Chandeliers, crystal,
and, china may also be excluded from earthquake coverage.
Earthquakes are a significant risk in California, so let Damberger’s
Insurance Agency in Mountain View help you find the right policy for your
needs. Our agents will work to find out the best price on all of your
earthquake coverage to auto insurance. Call us today at (650) 318-6291.