Earthquakes are Mother Nature's way of letting off steam. Unfortunately, for residents of Idaho, these quakes - even small ones - can cause major damage.
While California is notorious for earthquakes, Idaho is earthquake prone as well. The state has a large number of fault lines, and scientists at Idaho State University say that a large earthquake may hit in the next few decades.
It's important to make sure your home and belongings are covered by earthquake insurance before the shaking begins.
Whether you already have a great home insurance policy or are just searching, it's important to get a good understanding of earthquake insurance in order to ensure that your belongings and assets are have the extra liability insurance needed to cover earthquake damage.
Many homeowners assume that earthquake damage is covered by their homeowners insurance. However, this is untrue. In order to get earthquake coverage on your home and belongings, you must purchase a rider, or extra insurance coverage, specifically naming earthquakes as a covered event. Here are a few of the most common types of insurance, and how to secure earthquake coverage for each.
Unfortunately, each policy allows for different deductibles and coverages. Earthquake insurance typically carries a high deductible, but provides substantial coverage in case of an earthquake. Earthquake insurance will typically cover earthquake damage to the foundation or basement, the structure of the home, and any attached structures. They also cover personal possessions, but typically at a lower rate than other catastrophe policies, like fire or flood. The reason for this is somewhat logical - shaking is likely to damage structures, but unless it's a very extreme quake, household possessions like couches and dining room sets are not likely to sustain much damage.
Some policies may not cover attached structures. If you have attached or detached structures on your property, be sure to ask your agent about extra coverage on those items.
Earthquake insurance is usually affordable, as it typically requires a large deductible. When shopping for earthquake insurance, it's imperative to have all the necessary information ready in order to get accurate quotes for the type of house and possessions you own. Be sure to make yourself familiar with the following:
Independent agents can be a great help here, especially finding you the ideal amount of coverage and deductible you'd want to pay. Because they can shop around to several insurers before giving you quotes, you'll be able to see a variety of options. It's a more efficient way of comparison shopping. Independent agents aren't biased - in the end, they want to work to get you the most ideal policy, and aren't tied to a single parent company.
Discounts are often available on earthquake insurance. You might be able to get one of the following:
When it comes to purchasing earthquake insurance, it's important to be sure you're getting the right coverage. A Trusted Choice® agent is always available to help you discuss coverage options, find a policy, or even file a claim.
They have years of experience working with Idaho insurance providers, enabling them to find you a number of quotes from a variety of companies. Contact a Trusted Choice agent near you today to find the most comprehensive earthquake insurance quotes at the best rates.