Most of us face the possibility of experiencing an earthquake in our lifetime. Nearly 90% of Americans live in areas prone to active earthquakes, and earthquakes have occurred in 39 states since 1900. Some may think they don't need to worry about earthquake insurance, or it’s okay to put it off, but it's important to ensure you, your loved ones, and your home are as safe as possible if and when an earthquake happens.
If your home is in Idaho Falls, earthquake insurance is affordable—contact Alpine Castle Lake Insurance to find out how much it will cost.
When it comes to earthquake insurance, there are two essential things to know to keep your home covered and your mind at ease.
It is possible to purchase earthquake coverage as an endorsement or a separate policy if your home, condo, or rental insurance policy does not cover earthquake damage or adequate earthquake damage.
There are several sources of earthquake insurance, including the company that currently provides your home insurance. You can also reach out to a specialized earthquake insurance provider, or an independent organization like the California Earthquake Authority (CEA).
If you don't live in an earthquake-prone area, it's still beneficial to have some form of insurance, even if it’s supplemental insurance.
Most people live in an active earthquake zone, but even if you're not in an earthquake-prone area, it's a good idea for every U.S. citizen to have some earthquake insurance for protection. Here are some facts to consider:
There's a 70 percent probability that one or more damaging earthquakes with a magnitude of 6.7 or greater will strike the San Francisco Bay area during the next 30 years, according to the U.S. Geological Survey. This can cause significant structural damage.
According to the Earthquake Education Center at Charleston Southern University, there’s a 40 to 60 percent chance of a major earthquake happening somewhere in the eastern part of the United States within the next 20 years.
According to the Insurance Information Institute, there's a 40 to 63 percent chance that the New Madrid Fault (which runs through Arkansas, Kentucky, Missouri, and Tennessee) region will experience an earthquake with a 6.0 magnitude within the next 15 years.
Depending on the magnitude, location, and residual impact from the earthquake, locations like Idaho could see potential damage from quakes in the coming years from internal or external disasters. Given the likelihood of this possibility, Idaho residents are recommended to seek earthquake insurance in their areas.
Earthquake insurance covers damage to your home caused by an earthquake. Unless you live in more earthquake-prone areas, most standard homeowner and renter policies do not cover earthquake damage.
Damages or losses from floods, tidal waves, and other natural disasters are usually not included under your standard earthquake insurance or endorsements. If you experience a loss as a result of a landslide, settlement, mudflow, or rising, sinking, and contracting of the earth due to an earthquake, a comprehensive earthquake supplemental insurance or endorsement is likely to cover it.
If your building or house is structurally sound, seek cover under a heavy table or desk if you are inside when an earthquake hits. Stay away from windows. Avoid evacuating the building unless instructed to do so by emergency personnel. If you're in a building or home that's not structurally sound, it may be best to exit the building quickly.
However, if you find yourself outdoors, be careful of falling debris. Stay away from buildings and power lines, and remember that stone, brick, furnishings, and masonry material can fall from buildings. If you’re in a vehicle, stay inside only if you’re not surrounded by trees, power lines, or buildings that can fall. Avoid structures, large trees, power lines, and other hazards.
Find out how we can help you get the best price and value on earthquake insurance.
Home: Coverage for home damage
Living Expenses: If your home is deemed unlivable after a disaster, this covers your living expenses.
Personal Property: If your possessions are damaged, this covers most personal property.