Do You Need Earthquake Insurance?

Do You Need Earthquake Insurance?

While scientists may not yet have developed a way to predict earthquakes, they can always guarantee that earthquakes will inevitably happen. If you live near a fault line and your area is prone to seismic activity, you probably know all too well what it is like to experience an earthquake. And you are also most likely aware that earthquake insurance is something you should seriously consider.

Why You Need It

Your existing homeowners’ insurance policy covers quite a lot on its own, but it does not cover any damage that may occur in the case of an earthquake. And if earthquakes are a normal part of life in your area, you are more likely to incur that kind of damage. That’s why earthquake insurance is in high demand, and in some cases almost a necessary type of coverage.

Avoid Costly Repairs

Keep in mind that earthquake insurance isn’t designed to replace everything you’ve lost – there are payment limits depending on the policy. The main purpose of this kind of coverage is to get you back in your own housing. But without it, you can be looking at astronomical costs from earthquake damage unless you are properly insured – losses that can be even greater than the value of your home.

Earthquake insurance can be of great value, if it is something you can afford.