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.
- It’s easy to get. You don’t have to jump through a bunch of hoops to buy earthquake insurance. We can make the process simple and fast,providing you with an earthquake insurance quote in a matter of minutes!
- Your home might be on or near a fault line. It seems like the type of useful information a realtor needs to tell you, but the truth is that homes are sometimes sold without disclosing potential environmental dangers. If you are buying a house in California, you can check fault lines at: www.californiarocks.com/california-faults-quakes.
- Federal and state governments can only help so much. If the President officially declares a disaster, FEMA will help in an evacuation or recovery effort. This may also provide access to disaster aid funds. However, there are no guarantees that you’ll be eligible and this money is often difficult to get.
- One thing is certain - there will be more earthquakes in the future. In fact, there is a 70% chance that there will be a 6.7 magnitude or greater earthquake within the next 30 years, according to the California Earthquake Authority.
An earthquake may shake your home's foundation, but it doesn't have to rattle your financial footing.
Give us a call at (949)582-5220, or visit www.sunpacins.com/earthquake-insurance to get more information on earthquake insurance pricing and coverage options.
Source: Mercury Insurance