The 1994 Northridge earthquake was one of the costliest natural disasters in U.S history and it almost wiped out one of the nation’s largest insurance companies. It also served as a wake-up call for the state of California, as shortly thereafter, insurers that sell residential policies were required to also offer earthquake insurance.
California definitely tops the list of earthquake danger zones, so here are six reasons why you should consider buying earthquake insurance.
No conventional home or renters policy covers direct damage from earth movement, so you’ll need to purchase a separate earthquake policy to ensure you’re protected against the next “big one.”
Earthquake insurance is not be as expensive as you think. The assumption is that earthquake insurance is cost prohibitive, but that is not always the case. There are a number of different factors that influence the price, so it’s smart for you to learn more about the many available options.