April 26, 2016

Earthquake Insurance

Glendale Insurance Agents at Cornerstone Preferred Insurance

Did you know that earthquake insurance isn’t covered by most standard home insurance policies? In California, where nearly 10,000 earthquakes occur each year, it is essential to add this to your homeowner’s or business insurance policy. While most of quakes are small and don’t cause much harm, the risk for a earthquake of 7.0+, the kind that cause major structural damage, is very high in California.

How to Evaluate if You Need Earthquake Insurance earthquake insurance

You may be wondering if it is worth it to get earthquake insurance for your properties. Here are a few questions that you can ask to assess your needs:

  1. Does my homeowner’s insurance policy cover earthquake insurance? Talk with your insurance agent about your current policy to check your coverage. If you are already covered with your homeowner’s policy or business policy, then you don’t have anything to worry about!
  2. Can I afford to rebuild my home if it gets damaged by an earthquake? Repairing your home or business can get expensive, especially if the earthquake causes major structural damages. Most people don’t have thousands and thousands of dollars saved to rebuild their property after an earthquake, so having earthquake insurance greatly eases the cost burden after a traumatic event.
  3. Can I afford temporary housing if I can’t live in my house after an earthquake? If your house was uninhabitable after an earthquake, you may have to find another place to live temporarily, whether you have to stay in a hotel or rent another house. Likewise, if your business is damaged, you have to find space for you and your employees to work. Depending on the area, rent can cost hundreds to thousands of dollars each week.
  4. Can I afford to replace my personal property? If an earthquake damages valuable items like your television, furniture, or jewelry, then replacing them would be on you with no earthquake insurance.

For more information and resources on earthquakes, you can visit the California Department of Insurance or call one of our insurance agents!

Get Advice from Our Insurance Agents in Glendale and Santa Clarita, CA

Have questions on whether or not earthquake insurance is right for you? Our insurance agents will be happy to go over your situation and your current insurance policy! Call our office or fill out an online contact form to get in touch today!