Exploring Your Options for Earthquake Insurance. It is up to you whether or not you purchase earthquake insurance, but a good way to start is to shop around. Earthquake insurance generally comes with a deductible of 15% of the home's value, … Ninety percent of Utahns live in active earthquake zones, according to the Utah Seismic Safety Commission. Earthquake insurance: 8 things you need to know . You can compare quotes here. By Kathy Kristof November 7, 2011 / 5:05 PM / MoneyWatch The 5.6-point Oklahoma earthquake -- … Earthquake damage is generally not covered in the typical homeowner's policy so if you live in an area prone to earthquakes, you may want to check into obtaining coverage.Earthquake insurance will cover damage to your dwelling and its contents caused by damage from an earthquake such as walls that collapse or valuables that are destroyed inside your home. ft. home may cost between $3,000 and $6,000 to insure), with a typical deductible of 5% to 15% of the home’s value. The damage to property and the economy due …

State Farm ranked first in market share for earthquake insurance in 2004 (the most recent data available), according to the state's insurance department, with 30.57 percent of the market.

So if your home is worth $300,000, your deductible would be $60,000. Your property (land and structure) may be worth $600,000 in the marketplace, but earthquake insurance covers only the insured value of your home, as stated on your homeowner policy.

In that year, there were 121 insurers writing earthquake insurance in the state. Some argue the insurance is not worth the money for homeowners. A flood insurance policy will cover you. While that is a big number to consider paying out of pocket, Plooy says it’s ultimately a matter of minimizing losses.

's south coast.

Los Angeles County is slightly higher at $919. Is Earthquake Insurance Really Worth it? But earthquake coverage is expensive, it’s usually not included in homeowners insurance and can cost as much as the insurance itself. If you've never felt an earthquake tremor in your life, do you really need California earthquake insurance coverage? Not many people have it. Average annual earthquake insurance premium throughout the state is $800.

If a 7.5 magnitude earthquake were to happen in the metro Salt Lake area, the commission projects that 7,600 people would die. Not many people have it. NerdWallet

Standard home insurance doesn’t pay for… For example, if you live near a lake that floods your home after an earthquake, earthquake insurance will not pay to repair the damage.

Earthquake insurance: 8 things you need to know . Earthquake insurance is an option virtually every Utah insurance agent presents to homeowner/customers. Even though earthquakes present a serious threat in several states, earthquake insurance — and how to go about getting it — can be a bit mystifying. “The reason that they’re exclusions is because insurance companies have long said if there is catastrophic loss, there’s a possibility it could put insurance companies out of business,” he said.

Until then, companies that wrote homeowners insurance in the state were also required to offer earthquake … A.

Tuesday's earthquake has many people thinking about making preparations for a large quake that could hit B.C.

By Kathy Kristof November 7, 2011 / 5:05 PM / MoneyWatch The 5.6-point Oklahoma earthquake -- the strongest in …

Complete Guide to Buying Earthquake Insurance If you’re in the market for earthquake insurance, start with your current homeowners or renters insurance company. Although this kind of insurance is meant for homes, they are not included with standard home insurance but can be added onto policies. About Barbara Howington

Consider this. Earthquake insurance coverage changed radically after the 1994 Northridge temblor.

Earthquake insurance does not cover water damage from outside your home, such as sewer or drain back-up, flood, or tsunami.

Utah Insurance Commissioner Todd Kiser said earthquakes are one of several standard exclusions. Damage from a minor quake is most often limited to broken windows and dishes.

However, in California, coverage is available through the California Earthquake Authority. Premiums for San Bernardino County are $903. Homeowners insurance doesn't give people all the protections they expect, but some supplemental insurance can cost more than it is worth. For example, if the home is insured for $200,000, the deductible would be $10,000 to $30,000, possibly … That could include earthquake insurance.

Earthquake coverage typically costs between $1.50 and $3 per square foot (e.g., a 2,000 sq.



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