Streetsmart insurance Blog
Homeowners insurance protects policy holders from multiple hazards, including fire, wind, and hail damage. Unfortunately, homeowners insurance was not designed to protect homeowners from the devastating consequences of natural disasters. The scope and cost of that property damage is far too great for any homeowners insurance policy to cover.
If you live near a major fault line or you are worried about earthquake damage, your insurance agent can recommend other options to protect your property. Earth movement coverage is designed to protect homeowners from property damage that arises due to land movement. It covers a wide range of hazards and it can be added to your current policy as a rider.
Earthquake insurance is designed for homeowners who are primarily concerned with earthquake damage. It provides full coverage if your home is destroyed by an earthquake, and like your homeowners insurance policy it will protect your house from floorboards to rafters.
Should I Get Earthquake Insurance?
If You Live Near A Fault Line – If you live near a major fault line, you should consider purchasing earthquake insurance. Many homeowners are concerned about the cost of an additional policy, but living in an area of geological instability is a huge risk for property owners to take on. If your home is damaged or destroyed during an earthquake, you will be responsible for paying for the removal of debris and the repair/replacement of your home. You may also be responsible for mortgage payments on a house that you can’t live in. Earthquake insurance will protect your property and help you recover if disaster strikes.
If You Live In An Unstable Area – If you live near a cliff, volcano, or other geologically unstable area you should talk with your insurance agent about earth movement coverage. It will protect your home from property damage that is not caused by an earthquake.
Street Smart Insurance is committed to providing affordable coverage. Whether you are looking for your first homeowners insurance policy or you are shopping for a better price, our agents are ready to help. Call us at 732-462-8343 for a free quote!