…Probably not. Fact is only 1 and 10 Californians have an Earthquake policy in force. Unfortunately, most people assume that Earthquake coverage is included in their regular homeowner policy. This is FALSE! Your homeowner policy does not cover a loss from an Earthquake. You must have a separate Earthquake policy to be covered. As residents of Southern California, and especially since the most recent quake in Northern California, another Earthquake is inevitable and could happen at any time. As a homeowner it is important to assess your coverage before the next quake hits and be prepared.
Reasons to Access Your Risk:
1. Everyone living in California resides about 15 miles from an active fault
2. Even if you’re not near the epicenter, a big Earthquake can cause damage hundreds of miles away
3. Your basic homeowner policy provides no coverage for damage caused by an Earthquake
Why Californians don’t purchase Earthquake Insurance:
1. Cost$$- The deductible isn’t worth the money to some. Earthquake policies come with a high deductible & most people think the damage will never exceed that amount
2. People assume Government aid will help them
3. Home Equity– Many homeowners have little to no home equity and simply cannot afford earthquake insurance
Whatever the reason may be, everyone in California should have Earthquake Insurance. There are many more pros to having a policy in force. The California Earthquake Authority (CEA), is a not for profit, publicly managed, privately funded provider of Earthquake Insurance. They will help you prepare, rebuild and replace personal property.
Visit the CEA site today for more information on coverages and how they apply: http://www.californiarocks.com/cea-earthquake-insurance-policies
For other ways to prepare your home for an Earthquake check out the red cross earthquake checklist: http://www.redcross.org/images/MEDIA_CustomProductCatalog/m4240216_Earthquake.pdf
Call us today for a fast and easy Earthquake Insurance Quote!