What Does Earthquake Insurance Cover?

November 06, 2020 by Dan Green

Earthquake insurance protects homeowners and renters from loss in three distinct areas.

The first area of protection earthquake insurance provides is protection for your home.

Specifically, earthquake insurance pays cash when an earthquake damages your home’s structure. This can include damage to your home’s roof, garage, foundation, and walls.

It can also include the costs of hauling debris from your property; of bringing your home up to code with today’s building standards; and, of stabilizing the ground beneath your home.

Your homeowners or renters insurance won’t pay for structural damage from an earthquake.

The second area of protection earthquake insurance provides is protection for personal property that’s damaged in an earthquake.

If you are a collector of rare dolls, as an example, and an earthquake causes a wall in your home to collapse which, in turn, damages your dolls, you can file an insurance claim to have the value of your dolls paid out as cash.

You can also make an insurance claim if an earthquake causes your furniture to get smashed; your clothes to get ruined; or, your artwork to be damaged.

Lastly, earthquake insurance pays for hotel rooms or temporary housing when an earthquake damages your home so badly that it can’t be lived in.

This additional living expense benefit pays for all of the basic elements required to run your household, including moving and storage costs; furniture rentals for your home; and, in some cases, meals at restaurants.

The worse your home is damaged by an earthquake, the longer you can receive living expense benefits from your insurer. For catastrophic damage, an earthquake insurer may provide living expense benefits until you’ve found a new, permanent home.

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