Earthquake Insurance in Northern California
It happened: a massive earthquake struck where you live. Now what?
If you’re covered with an earthquake insurance policy, you are in good standing. But if you simply had homeowners insurance, the damage and repair is unlikely to be covered by the carrier if a quake strikes. Earthquake damage could severely affect what is most likely your most valuable asset: your home.
This is why it’s important to equip yourself and your family with the coverage you need. Don Ramatici Insurance, Inc. provides earthquake insurance to clients in Petaluma, Sonoma County, Napa County, Marin County, Solano County and surrounding areas across the state.
Understanding Earthquake Insurance
Depending on where you live, earthquakes can be rare, but they can have significant repercussions. Aside from incurring damage to sentimental items and causing unexpected problems, even a tremor can mean serious losses and subsequent home renovations. Rebuilding your home as is can be a costly process without the cushion of insurance.
Earthquake insurance can be tailored for a variety of budgets and circumstances. For example, rates may be lower for homes made out of wood versus homes made out of brick, as wooden homes are better at absorbing quakes. Your rate will also depend on your location and the probability of an earthquake occurring. Single-story homes are also less vulnerable to quakes than multi-story homes.
Personal property claims are another section of earthquake insurance. Instead of covering your home itself, these claims cover belongings such as furniture or electronics affected by the quake. Additional Living Expenses (ALE), or loss of use, covers costs to live elsewhere while your home is evacuated or under repair.
Anticipate the Unlikely
According to the United States Geological Survey’s recent U.S. National Seismic Hazard Maps released in 2014, 42 of the 50 states “have a reasonable chance of experiencing damaging ground shaking from an earthquake in [a building’s typical lifetime of] 50 years.”
Consider the ramifications of an earthquake striking and your home being affected. You could have to pay to rebuild your home while also paying your existing mortgage, and for you and your family to stay elsewhere while your home is rebuilt.
Just as with flood insurance, you can add earthquake coverage to an existing homeowners policy or keep it separate. Excluding this coverage from your portfolio of protection could be disastrous. Contact us today to learn how we could help you.