May 29, 2015
Earthquake Insurance Basics
California is one of the most sought after destinations to live. Along with beautiful coastlines and warm weather, California also comes with the threat of experiencing an earthquake. Scientists are predicting that California is facing a major earthquake, which means that it is vital to make sure that you are prepared with the right earthquake insurance policy. Even with the impending threat of the next big quake, only around 10 percent of homeowners have earthquake protection. One of the main reasons is that they assume that their existing homeowner’s insurance policy will provide coverage. However, damage that is done during an earthquake will not be covered by your home insurance, only a specific earthquake insurance policy will. Many homeowners rely on FEMA to help them rebuild after an earthquake. While FEMA may provide some coverage, it will most likely not be enough to completely rebuild or repair your home if it is badly damaged. Any FEMA loans that are paid out will also have to be repaid by the homeowner. While they are low interest loans, there is still money coming out of your pocket. With an earthquake insurance policy, after your deductible, the money that is used to cover the cost of repairs and rebuild is paid fully by your insurance company. The average cost for an earthquake insurance policy is under $1,000, but the price can vary depending on the age of your house and where you live. Talking with your insurance agent will give you a much better idea of how much an earthquake insurance policy will cost you. For all of your earthquake insurance coverage needs, contact
Gateway Professional Insurance Services in Vacaville, California. We will work with you to ensure that you have the protection that you deserve, all at the right price.