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Does Your Business Need Earthquake Coverage?

What will commercial earthquake insurance cover? A standard commercial property insurance policy will NOT cover earthquake insurance; it is considered a “special” coverage, so you’ll need to take out a separate policy. This add-on will usually cover damage to your building, inventory, and work property like computers. It may also cover lost income during business interruption.

How is my deductible determined? Usually, earthquake insurance has a high deductible, anywhere from 2-20% of your business’ value, location, building condition, construction materials, foundation, and age. An insurance adjuster will usually come out to inspect your business and possibly require upgrades before you qualify. Upgrades may include:

  1. Bolting structure

  2. Bracing chimney and walls

How much earthquake insurance should I get? Your earthquake insurance policy should not just cover the market value of your commercial property, but the cost to rebuild it in case of total demolition.

Where can I get earthquake insurance for my business? Unfortunately, there are many carriers that don’t even offer earthquake insurance for your business; however, at Cornerstone Preferred Insurance, we are independent insurance brokers that have access to numerous carriers and policies. We’ll be able to find a commercial business policy that encompasses EVERYTHING you need for your business, including earthquake insurance. Because we can compare many different companies, we’ll also get you a better price than you would find going directly to the insurance carrier.

Get in Touch with Our Commercial Business Insurance Agents ASAP Don’t risk everything you’ve put into your business by leaving out earthquake coverage. It may be tempting, but it won’t be worth it in the next major earthquake. Talk to our agents about your business and we’ll help you figure out the right kind of policy to protect your assets.

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