Earthquakes can take place throughout the country. You may need earthquake coverage in addition to your standard homeowners insurance policy for a variety of reasons. It may have to do with where you live as well as what your policy has to offer.
In some areas of the country, especially where earthquakes are more frequent, you may be required to have the earthquake coverage. This will protect you in the event that you do suffer an earthquake. Otherwise, your home could be damaged and with homeowner’s insurance not covering such damage, you could be homeless.
An insurance company is going to look out for their best interest. They may not be able to provide you with the full level of coverage if you are in a zone where you are at risk for earthquakes. As a result, you are required to gain this extra coverage so they can make the necessary repairs to your home.
If your home is involved in an earthquake, your standard coverage wouldn’t be able to make the repairs. This means that you have a home that has been damaged with no way of paying for it. You would have to pay for everything out of pocket – and that could be very expensive!
If your homeowners insurance policy requires you to buy earthquake coverage, then you have no choice but to buy it. The good news is that the coverage will be there in the event that you do suffer an earthquake in your home. The policy will be in place so your home can be repaired without it all coming out of your pocket.
It’s a good idea to price out coverage options for your earthquake and your Homeowners Insurance before choosing a company. By getting a few quotes, you can ensure you get the needed coverage without spending more than what is necessary.