Earthquake Insurance for Home Owners

Do you think that your home owner policy covers even the damages caused by earth quake? Certainly not .Since earth quake has become a recurring event, it is inevitable for the home owners to get an earth quake insurance policy. But from where to get an earth quake insurance policy? Read more on it.This article covers

• What does earth quake insurance covers?
• Where to get that?
• What is additional living expense coverage?
• Who needs earth quake insurance coverage?

The Earth is made up of large tectonic plates, which form the Earth's surface underneath the soil. When two plates rub together, an earthquake occurs. An earthquake gives the feeling of a sudden trembling or tremor. While this may not seem very dramatic, the devastation that an earthquake can cause is immense.Earthquakes can truly reduce your home to rubble within seconds or minutes. Even minor earthquakes can cause structural damage that requires major overhaul and can ruin personal property. Larger earthquakes can be terribly frightening, loud, and can cause tremendous damage. An earthquake can undermine the foundation of your home, can cause your siding to slip, can shatter glass, can cause personal injury, and can cause outbuildings to collapse. It is dangerous to underestimate the force of an earthquake. If you think earthquakes are rare, you are wrong -- scientists estimate that more than 500,000 earthquakes take place around the globe each year

If you live in a zone that is prone to earthquakes, it is usually only a matter of time before an earthquake does strike. For this reason, you need earthquake insurance. You can easily find earthquake insurance quotes online by selecting major web sites offering insurance and through web sites of insurance providers. If you're wondering why have earthquake insurance? Consider that your current homeowner policy does not cover you against any of the damage caused by earthquake. Now, consider how much it would cost you if your home were reduced to nothing tomorrow. Consider having to pay this huge cost yourself. Now consider having the help of earthquake insurance payouts if you had to rebuild a repair your home extensively following earthquake. Your choice should be obvious.

What Does Earthquake Insurance Cover?

Earthquake insurance generally covers the financial costs all of damage caused to homes by earthquakes.It does not cover the costs associated with other earth tremors.For example, the tremors caused by aircraft, traffic, and other man-made phenomenon are not covered by this type of insurance.

In general, your personal property as well as the structure of your home is covered. In case of an earthquake, the insurance provider will help you pay for repairs, rebuilding, and replacing of your personal property.Depending on the policy you get, you could be reimbursed for the total cost of your home. Some policies also deduct any depreciation that has affected your property value. This means that if your property was initially valued at $200,000 a few years ago but is now only considered to be valued $175,000, you'll only get the latter amount in case of an earthquake.Where possible, try to get the most comprehensive coverage that will help you pay for the total cost of replacing your property.

Continue to:Additional Living Expense Coverage