Why is important to have an earthquake insurance?
Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage.
How much coverage do you need?
Compared to home insurance, earthquake policies contain a steep deductible, which is the amount subtracted from your claim payment. Insurers will deduct between 10% and 20% of your dwelling coverage limit.
- Repairs to your house and attached structures, such as a garage.
- Your personal belongings, such as furniture and clothes.
- Additional living expenses, such as hotel bills if you can’t live in your home.
