Important Earthquake Insurance Coverage Options You Need to Know About

Earthquake Coverage Highlights

Questions regarding earthquake insurance are on the rise.  A “major event” is predicted for Washington State in our lifetime.  It’s important to be informed. Look for these options when reviewing quake policies.

Check out recent quake activity in your area!

Deductible options are widely varied

A flat deductible amount is rare on current policy forms. It’s important, if you are looking to replace an older quake policy, that you review your deductible.  A flat deductible will likely be MUCH LESS out of your pocket than a percentage deductible.

Standard percentage deductible options include 2.5% up to 10%.  Ask how the deductible is applied in the event of a loss!

Loss of Use

Unfortunately it can take several years to rebuild a home after a natural disaster. Supplies and contractors can be hard to find.  A recent news report indicated 1 in 5 people still haven’t moved back into their homes after Superstorm Sandy struck 5 years ago.

Loss of use includes additional living expenses incurred during reconstruction.  Many programs provide a limited amount of extra expense coverage.  If your earthquake coverage is part of your homeowners or condo-owners insurance policy check for limitations!

Our program allows clients to select a loss of use limit up to $15 million.

Earthquake is not included on traditional homeowners insurance policies

It is widely assumed coverage is included on homeowners policies however, it is not! Any damage that occurs as a result of earth movement is excluded.

Additional Questions?

Contact an agent at Guide Insurance Services to discuss what type of earthquake policy best fits your needs.








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