4 February, 2020 0
earthquake seismic waves, earthquake insurance

Why California Homeowners Need Separate Earthquake Insurance Policies

Protect your home with specialty earthquake insurance.

If you live in California, then you know that your risk of earthquake damage is high.  While you might assume that your standard homeowners insurance in Los Angeles, California protects against earthquakes, this isn’t the case.  Find out why home insurance excludes coverage for earthquakes and how you can protect against this very real risk.

Standard Home Insurance Excludes Coverage for Earthquake Damage

While home insurance is designed to protect against a variety of common perils, there are certain risks that are deemed too expensive to be included in standard home policies.  One of the most common exclusions is earthquake damage.  Fortunately, homeowners can secure the coverage they need by investing in a separate earthquake insurance policy.  Here’s what you need to know about this special type of coverage.

What Does Earthquake Insurance Cover?

Earthquake insurance offers coverage for the damages caused by an earthquake.  This coverage extends to the structure of your home, as well as the personal belongings that may be damaged or lost in a quake.  Please note that earthquake insurance only offers coverage for your home and personal belongings inside the home.  So, say, for instance, that your car was damaged during an earthquake.  Your earthquake insurance would not offer coverage to repair this damage.  Instead, this would fall under the jurisdiction of your comprehensive auto insurance.  Typically, earthquake insurance is only necessary for homeowners who reside near a fault time or in an area with seismic activity caused by drilling.

How Expensive is Earthquake Insurance?

Earthquake insurance rates vary depending on where your home is located.  Homes in low-risk areas will usually have lower insurance costs.  However, if your home is located near a fault line, then your premiums will be significantly higher.  Your rates may also be higher if the following is true:

  • Your home is older
  • Your home is made of brick (brick is less flexible and therefore has a harder time withstanding the stress caused by an earthquake)
  • You live in a high-value home

This is what you need to know about securing earthquake insurance for your home.  Do you have additional questions about your homeowners insurance in Los Angeles, California?  If so, then contact the experts at Fuller Insurance Agency in Southern California.  Our dedicated team is eager to assist you with all your coverage needs today.

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