A home or commercial property is a significant investment, so it is only natural to want to protect that investment from natural disasters. However, not all natural disaster damage is included in all types of property insurance. For example, damage from earthquakes is excluded from coverage in many standard policies, meaning you will need to buy a separate earthquake insurance policy if you want to prepare for that risk. In this article, our team at LaVaughn Rodgers Insurance will go over some key information you need to know about earthquake insurance.
- Structural Damage – Seismic events can do serious damage to your home and to other structures on your property, so earthquake insurance covers damage caused by these events. If your home, garage, or other building is damaged in an earthquake, your policy will help cover the costs of repairs.
- Personal Property – Earthquake insurance also typically covers damage to the items inside your home or on your property, such as furniture, electronics, and more. If any of your belongings are damaged in an earthquake, you can make a claim to cover repair services or replacements for those items.
- Loss of Use – If your property is damaged in an earthquake, you will likely need to temporarily relocate to a different residence while repairs are performed. Earthquake insurance offers coverage for expenses associated with this relocation, such as hotel bills or rent, meals, and other living expenses. Having to move out, even temporarily, can be stressful, but a good earthquake insurance policy can help ease the financial burden.