Recent seismic activity around the country has many property owners thinking about earthquake insurance. As we learn more about earthquakes, we know that the likelihood of an earthquake is significant in numerous locations: 

• In the next 30 years, it’s at least 70 percent likely that an earthquake of 6.7 magnitude or higher will strike the San Francisco Bay area.
• A 40-60 percent chance of a major earthquake is present in the eastern United States over the next two decades. 
• The next 15 years could see a large earthquake along the New Madrid Fault in the Midwest. 

Most property owners believe their homeowner or business insurance policies will cover them in the event of earthquake damage, but this is incorrect. Most policies do not cover earthquakes, so you must take out a separate earthquake policy or endorsement. You can get such a policy from your regular insurance provider, a provider that specializes in earthquake insurance, or from the California Earthquake Authority (CEA).

If your home or place of business is damaged by an earthquake or a landslide resulting from an earthquake, your earthquake insurance covers repairs and renovations, much like a regular property policy. Before buying earthquake insurance, think about these tips: 

• Ask specifically what the insurance covers. Most earthquake insurance, for example, doesn’t cover tidal waves and tsunamis. 
• Inquire about the policy covering another place to live if your home is damaged beyond habitability. 
• Make sure you know how much the deductible is: the amount you pay out of pocket before the policy begins when you make a claim.
• Ask about suggestions to protect your home and family before and after an earthquake and how to create a disaster plan. 

Or, you can simply call Allco Fullerton Insurance Agency, Inc. at 714-992-2390. We’re independent agents who have access to hundreds of insurance products for you, including homeowner, business property, and earthquake insurance. We’re also a Dave Ramsey Endorsed Local Provider (ELP), so you know you can rely on us.

Get a Free Earthquake Insurance Quote