Earthquake Insurance

I know that there may be some of you out there curious about Earthquake Insurance since we are now hearing the word "EARTHQUAKE" quite a bit these days.  Well the first question you ask is  What is earthquake insurance?

It provides coverage if your home is damaged by an earthquake. Your standard homeowner and renters policies will not cover earthquake damage. Earthquake insurance is a separate endorsement you must buy and add to your homeowner or renters policy.
An earthquake endorsement generally excludes damages or losses from floods and tidal waves – even when caused or compounded by an earthquake. However, if you experience a loss due to a landslide, settlement, mudflow, or the rising, sinking and contracting of earth, your endorsement may cover it if the damage resulted from an earthquake.   NEXT

How earthquake coverage works

Unlike most homeowner or renters policies, earthquake insurance is designed to cover catastrophic damage. Insurers normally sell it with deductibles equaling 10 to 25 percent of the structure’s policy limit.
This limit works much like the deductibles on your auto insurance. The insurance only pays for damages that exceed the deductible. However, unlike car insurance, some earthquake policies treat contents and structure separately. You may have a separate deductible for each of the following:

• the contents
• the structure
• unattached structures like garages, sheds, driveways or retaining walls

Not all policies are alike. You should compare the coverage differences between companies to get the coverage that fits your needs.

We can always give you good advice if you call any of our offices at Schrader & Murphy Insurance and you will learn if this is something that you should consider purchasing .  Call 877-777-6600 and speak to any of our friendly agents to achieve peace of mind!

For any other of your personal insurance needs go to our website at www.SchraderAndMurphyInsurance.com and get an instant free quote.