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Earthquake Insurance

Earthquake Insurance

Earthquake Insurance Policies

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Not very many people consider the idea of purchasing earthquake insurance. However, this kind of insurance could be quite the financial life-saver in the case of a significant seismic event. It is particularly important to consider it as other types of insurance policies seldom cover earthquakes. When disaster strikes you will be thankful that you did purchase the protection of earthquake insurance.

Those who call places like California home, places where seismic activity is a more common occurrence, certainly understand the inherent risk of earthquakes. The sobering fact, though, is that earthquakes can happen at any time in many other regions too. According to the U.S. Geological Survey, Americans in a whopping 39 states face the possibility of going through the experience of an earthquake. While in some places the chance of a disastrous quake is less, why take such a chance with your future?

Even in places where earthquakes happen more often, only a small minority of those owning homes purchase this kind of insurance. Apparently, many homeowners are willing to gamble that a severe earthquake will not cause any damage to their own homes. Again, why gamble? An earthquake is often just a mild tremor, but there are those times in which the severity of it can turn the experience into a devastating tragedy. A serious trembler can do major damage to your home and property, often irreparable. In the aftermath of Southern California's 1994 quake, many homes and apartments were "red-tagged", which means a total loss. Without earthquake insurance, you will be faced with having to come up with the money to repair or completely replace your home on your own. Knowing this, it can be one of the most important decisions to purchase an earthquake insurance policy.

If you are in the market for this type of insurance, you should investigate exactly what a policy will cover. You are always well-served by contacting your insurance agent to clarify the many options available to you. It is noteworthy that earthquakes can also cause indirect damage to your property. For example, earthquakes often cause floods, tsunamis or even strange weather events. A quality earthquake insurance policy often only covers direct damage caused by a seismic event. You may be wise in considering extra coverage to ensure protection from any secondary effects of such disasters.

Earthquake insurance can be vital in providing the peace of mind that you are protected in the event of such a potentially devastating natural disaster. If you live in an area that is at risk of earthquakes, you would be wise to at least contact an insurance agent to discuss finding the type of policy that would best fulfill your needs.