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Earthquake Insurance

from Robert Bell Insurance Brokers

by Michael Bell on Apr 28, 2017

We receive questions almost everyday about what Earthquake (EQ) covers and what EQ does not cover. We thought it might be interesting to continue this discussion by highlighting areas that EQ does not cover. Whether you should buy earthquake insurance depends on many factors. One is, if you live in a EQ area. Earthquakes can happen in all states. About 80% of us live in areas that have earthquakes. California has the most frequent damaging earthquakes while Alaska has the largest earthquakes. It is safe to say that all West Coast States have considerable risk of EQ’s.

Here is what an EQ policy does not cover

  • Damage to land- the policy won’t cover loss to “dirt”, sink-hole, or erosion. EQ will not pay to have a hole filled on your property.
  • Damage to vehicles are excluded in a EQ policy. This coverage would be picked up under an auto policy if you have the right coverage.
  • Fire is excluded under all EQ policies. The property policy (if in place) would cover the damaged caused by the fire. This is true even if an EQ broke a gas line. Both insurers would be involved, but the property insurer would cover the fire loss.
  • As is with most insurance policies any pre-existing damage will be excluded.
  • Some policies may exclude damage to brick veneer or stone that covers external walls.

We recommend that every business obtain an earthquake quote every year. Your risks depend on how close you live to fault lines, how well your building was built to withstand losses, and the type of ground your home is built on.

Robert Bell Insurance Brokers offers the personal insurance products you need. Our professional agents will consult with you on the coverage and premiums that meet your specific needs. Feel free to get in touch or get a quote today.

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