Earthquake Insurance: The Basics

The mystery surrounding earthquake insurance is immense. The main issue with earthquake insurance is that it doesn’t come as standard coverage from your run-of-the-mill homeowner’s insurance policy. It seems like an odd thing not to be covered for, but there is the option to have it as an “add-on” to your policy. They also have it as its own form of insurance. An earthquake can happen in all 50 states, Oklahoma is known for its tornadoes, but it could also be known as the home of the most earthquakes in 2015. This was reportedly due to the drilling taking place around the area.

Now, what exactly does an earthquake insurance policy cover?

Covers:

• Any repairs to your house and attached structures, like a garage.
• Your personal property and belongings, such as clothing and furniture.
• Your additional living expenses are also covered, like hotel bills if you cannot live within your home during repairs.

Doesn’t Cover:

• Fires that are caused by an earthquake, which is already covered by your homeowner’s insurance.
• Vehicular damage, which is why you have a car insurance policy.
• You’ll need flood insurance, which is separate from earthquake insurance, even if flooding is a byproduct of a seismic event.
• Sinkholes are a separate coverage, usually added to your homeowner’s insurance policy.
• Any stones or brick used for your home’s veneer are also not covered by earthquake insurance.

Gables Insurance Recovery is here to assist you in understanding your coverages and pursuing your claim by presenting objective findings and negotiate your settlement.