After the 1994 Northridge earthquake, the way we thought about earthquake insurance changed. We haven’t had a big quake in a while, but it’s important to be prepared in every situation because we will never truly know when a disaster could strike. Coast General Insurance wants to help you understand the importance of earthquake insurance and if you really need it.
The aftermath is expensive. There is no doubt it will be costly to fix any damages an earthquake causes, especially if it is a large and long-lasting one. As advanced as technology is, there is no way to pinpoint the exact date and time of a quake, which makes it difficult to predict when the ground could start shaking. Your finances could easily be compromised if you need to pay to repair the damages and you’d be put in a difficult financial situation. Think about how much money you have saved up for these types of disasters and if your emergency fund would be enough to cover you in these unexpected situations.
What does an earthquake insurance policy cover? All policies can differ, but most can include coverage for repairs, your personal belongings, and other expenses that may arise if you’re unable to live in your home. For instance, the costs of having to stay in a hotel could be covered if it’s included in your policy.
It’s also crucial to know what your policy doesn’t cover because other disasters could result from an earthquake and they may not be covered in your policy. If the shaking ground causes vehicle damage, fires, floods, or any other disasters, then you won’t be covered. Make sure that you are covered for what you need, especially if you live in an earthquake state. If your vehicle is damaged, you’ll want to make sure you have enough auto insurance coverage, which is another area we’d be happy to help you with.
Think about mitigation. You can prepare for an earthquake by strengthening your house or business location and securely bolting it to the ground. The State of California can also assist you with this as Consumer Reports describes. This helps reduce the risk of damages and can also lower your premium.
Who needs it? Earthquakes can happen anywhere in the United States, but certain areas are more susceptible to them in the Western states. This means our Ventura County residents and business owners should be prepared in the event of an earthquake and have proper coverage to be safe. You can always speak with one of our insurance brokers to discuss your options to determine whether or not a policy would be beneficial for you.
Coast General Insurance Brokers is proud to serve the insurance needs of Ventura and all of California. Contact us today to get a quote for specialized insurance coverage for when an earthquake strikes.