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Does My Homeowners Policy Cover Earthquakes? Most standard homeowners, mobilehome owners, condominium, and renters insurance policies do not cover earthquake damage. Similar to flood insurance, earthquake insurance usually must be purchased separately. |
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Is My Residential Property Insurance Company Required to Offer Earthquake Insurance? The law requires insurers that sell residential property insurance in California to offer earthquake coverage to their policyholders. Residential property insurance includes coverage for homeowners, condominium owners, mobilehome owners, and renters. In offering earthquake coverage, insurance companies can become a CEA participating insurance company and offer the CEA's residential earthquake policies or they can manage the risk themselves. To date, companies that sell over two-thirds of the residential property insurance in the state have opted to become CEA participating companies. |
With the last two earthquakes that happened in the last 24 hours, are you protected? Most insurance polices do not include earth quake insurance, let us review your homeowners policy and we can find out if you are covered or not. Call me at
323-546-3030
Most residential insurance policies do not cover earthquake damage – a separate earthquake policy is required. Without earthquake insurance to help you cover the costs of repairs and other expenses that come with catastrophic damage, you will pay out-of-pocket to fix your home, to replace your personal property, and to live and eat elsewhere.
email me for a quote and see how relatively inexpensive it is to be protected in the unexpected event of a earthquake. wmohammad@farmersagent.com
Many people assume their residential insurance policy fully protects them, but if you look at a typical policy, you will see it does not cover earthquake loss. And government disaster-relief programs are extremely limited—they are designed to help you get partly back on your feet, but not to replace your home and everything you lose. So if an earthquake strikes tomorrow, will you have the financial resources to pay for earthquake damage to your home and its contents?
When you consider your resources, ask yourself how much of your investment in your home you are willing to put at risk. For many California homeowners, their home is their biggest financial asset. Without earthquake insurance, how do you plan to protect that asset from the costs of earthquake damage? If you have a typical home loan and deed of trust, did you know you remain responsible for the loan balance even if your home is damaged or destroyed by an earthquake?
Consider taking these basic steps as part of good planning and preparation: Research the earthquake hazard in your area. Secure the contents of your home to reduce the likelihood of damage and injury. Investigate how well your dwelling is designed and constructed to resist damage from earthquake motion—retrofit the structure if necessary. Analyze your finances and develop a financial-recovery plan in case an earthquake damages or destroys your home or its contents.
There is good information available to help you. But only you can decide if earthquake insurance is right for you.
Won't the Government Be There to Help Me?
The federal Department of Homeland Security's Federal Emergency Management Agency (FEMA) and the Governor's Office of Emergency Services (OES) in California respond to, plan for, and help mitigate effects of disasters. Government disaster-relief programs are designed to help you get partly back on your feet but not to replace your home and everything you lose.
The primary form of federal disaster relief is the low-interest loan—as a loan, it must be repaid. Because it is a loan that must be repaid, some people do not qualify for the loan. FEMA grants for post-disaster emergency home repairs and temporary rent assistance are only available to individuals and households who do not qualify for loans.
In addition to creating a plan to take care of your family for immediately after an earthquake, you should also develop a family plan for long-term financial recovery.
Most residential insurance policies do not cover earthquake damage – a separate earthquake policy is required. Without earthquake insurance to help you cover the costs of repairs and other expenses that come with catastrophic damage, you will pay out-of-pocket to fix your home, to replace your personal property, and to live and eat elsewhere.
email me for a quote and see how relatively inexpensive it is to be protected in the unexpected event of a earthquake. wmohammad@farmersagent.com
Many people assume their residential insurance policy fully protects them, but if you look at a typical policy, you will see it does not cover earthquake loss. And government disaster-relief programs are extremely limited—they are designed to help you get partly back on your feet, but not to replace your home and everything you lose. So if an earthquake strikes tomorrow, will you have the financial resources to pay for earthquake damage to your home and its contents?
When you consider your resources, ask yourself how much of your investment in your home you are willing to put at risk. For many California homeowners, their home is their biggest financial asset. Without earthquake insurance, how do you plan to protect that asset from the costs of earthquake damage? If you have a typical home loan and deed of trust, did you know you remain responsible for the loan balance even if your home is damaged or destroyed by an earthquake?
Consider taking these basic steps as part of good planning and preparation: Research the earthquake hazard in your area. Secure the contents of your home to reduce the likelihood of damage and injury. Investigate how well your dwelling is designed and constructed to resist damage from earthquake motion—retrofit the structure if necessary. Analyze your finances and develop a financial-recovery plan in case an earthquake damages or destroys your home or its contents.
There is good information available to help you. But only you can decide if earthquake insurance is right for you.
Won't the Government Be There to Help Me?
The federal Department of Homeland Security's Federal Emergency Management Agency (FEMA) and the Governor's Office of Emergency Services (OES) in California respond to, plan for, and help mitigate effects of disasters. Government disaster-relief programs are designed to help you get partly back on your feet but not to replace your home and everything you lose.
The primary form of federal disaster relief is the low-interest loan—as a loan, it must be repaid. Because it is a loan that must be repaid, some people do not qualify for the loan. FEMA grants for post-disaster emergency home repairs and temporary rent assistance are only available to individuals and households who do not qualify for loans.
In addition to creating a plan to take care of your family for immediately after an earthquake, you should also develop a family plan for long-term financial recovery.