Is your home covered if there is damage by an earthquake?

Unless you have a specific endorsement or an earthquake policy the answer is NO!

I am often asked if I have EARTHQUAKE coverage on my home and even on my business and the answer is YES. If you have any equity in your home, it could be gone in even a small earthquake. For as little as $150 a year we can cover the structure itself. It is a little more if you would like the insurance to cover your personal property, loss of use and other coverages.

Here are some actual examples of homes that we have written earthquake policies for that include the dwelling, personal property, loss of use, other structures and building ordinance.

Home valued at $236,000 in Clinton, coverage costs $305 per year

Home valued at $235,000 in Layton coverage costs $269 per year

Home valued at $228,000 in Layton cost $288 per year

Home valued at $199,500 in Farmington costs $238 per year

One of the biggest concerns in coverage you would have in the case of earthquake damage is loss of use. Where will you live if your home is unsuitable? Our earthquake policies have coverage for this possibility. The insurance will pay for a residence for you during the repair of your home. The great thing is, it doesn’t matter who your regular homeowners or business policy is insured with, we can help you with earthquake insurance as a stand alone earthquake policy with either a 5% deductible that has a Masonry (Brick) exclusion or a 10% deductible without the exclusion. We can insure both the actual home itself and your personal property or just the home itself.

The rates are far less than most people assume and it is great coverage to have, especially when you consider that scientists have estimated that we will likely face a 7.0 magnitude earthquake in our lifetimes. The damage of a quake that size would be catastrophic. Even a smaller quake could cause major repairs and damage to your property, which can easily be insured with one our policies. There are some underwriting requirements to review so contact us to see what best fits your needs.