The state of Washington is no stranger to earthquakes. Located on the Pacific Coast, the Evergreen state has numerous earthquakes every year. However, when a large earthquake hits, many residents, renters and home owners are caught unprepared. Earthquake insurance is one crucial way to get the extra liability insurance that will allow you peace of mind, knowing that when an earthquake occurs, your home and assets in WA are covered.
In such a seismically active state, it's a wise idea to consider earthquake insurance when purchasing or renting a home. Many home owners and renters believe that earthquake insurance is include in their insurance policies; however, this is usually not true. An earthquake insurance policy must be purchased separately.
Earthquake insurance is a policy specifically designed to offer you coverage against some of the damages that occur during and after an earthquake. A typical earthquake insurance policy in WA may offer the following:
Be aware that many earthquake insurance policies are not available shortly after an earthquake. Also, earthquake insurance may cover sinkholes, tremors and mudslides. Some lending institutions may require you to purchase earthquake insurance, so be sure to ask your lender prior to purchase.
The cost of earthquake insurance varies depending on a number of contributing factors. When shopping online for earthquake insurance, make sure to be familiar with the following:
All of these factors, plus many more, will be used to determine your individual policy quote for earthquake insurance.
Whether you're a new transplant to Washington, or are a long-time resident of the state, it's important to be familiar with earthquake safety:
Nobody expects an earthquake, which is why being prepared is so essential.
There may be discounts available on earthquake insurance. However, there are many other ways to save on your earthquake insurance policy. For instance, wood homes tend to have lower earthquake insurance rates than brick homes, since wood tends to be more flexible than brick.
Additionally, you can raise your deductibles or modify your coverage to save on an earthquake insurance policy.
When it comes to protecting your home and assets from the damages of an earthquake, it's important to have a professional by your side who is familiar with the area and risks, and is committed to helping you find the right coverage at the right price. A Trusted Choice® agent is always available to help you find coverages, suggest policy modifications, or even help you file a claim.