Earthquake Insurance

Every year in the state of California, there are two or three earthquakes that are large enough to cause moderate structural damage. The risk of earthquake damage is so prevalent that many homeowners insurance policies don’t provide coverage for losses or damage related to earthquakes. Consequently, in order to be properly protected against earthquake risks, you typically must purchase an earthquake policy.

To learn more about earthquake insurance policies or to get a quote for coverage, contact the team at Mikel's Insurance Services today.

What Is California Earthquake Insurance?

Simply put, earthquake insurance can help protect your home and belongings if they are lost or damaged due to an earthquake. Typically, earthquake insurance policies provide the following protections:

·        Dwelling coverage: This may help with the costs to repair or rebuild the structure of your house.

·        Personal property coverage: This may help cover your lost or damaged personal items within your house, such as furniture and electronics.

·        Additional living expenses (ALE) or loss of use: This may help cover temporary costs to live elsewhere while your home is being fixed or if you have to evacuate the area.

Am I Required to Get Earthquake Insurance in California?

While you are generally not required to purchase earthquake insurance in the state of California, the prevalence of earthquakes, and the magnitude of damage they can cause, often necessitates this type of coverage. If you have a homeowners insurance policy in the state of California, your insurance company is required to offer you earthquake insurance every other year.

How Much Does Earthquake Insurance Cost?

The cost of purchasing an earthquake insurance policy can vary and several factors (e.g., your home’s age, location and construction materials) weigh into its costs. Additionally, coverage limits and deductibles may affect premiums.

How to Get Earthquake Insurance in California

If you’re a California homeowner who needs earthquake insurance, don’t wait until it’s too late. Give the team at Mikel's Insurance Services a call today to find out how an earthquake insurance policy can help protect you.