Earthquake insurance is recommended for people who live within an earthquake zone. It helps you recover some of the losses that occur following an earthquake. Typical polices don’t cover earthquake damage, but a specific policy for earthquakes can be purchased by a homeowner, business owner or renter.
A basic earthquake insurance policy will cover the following:
Personal Property – Your personal belongs fall into this category. You’ll receive financial assistance to repair or replace items such as televisions, furniture, and clothing. You might need additional coverage for fragile items such as fine china or antiques.
Dwellings – This covers the building that you’ve insured. It may or may not cover additional structures, such as sheds or swimming pools. Check with your insurer to see if you need additional coverage for detached structures.
Living Expenses – You might find yourself temporarily homeless following an earthquake. Living expenses pays for temporary housing until your home is repaired. But there is a limit, and your home must be repaired before your coverage has reached its limit.
Anyone in an earthquake zone should consider earthquake insurance. The cost of recovery following an earthquake can cost thousands of dollars or more. Insurance helps you recover without shouldering all the costs alone.