Protecting your family’s most valuable asset from a damaging earthquake requires the purchase of earthquake insurance. Presently, the way to add Earthquake(EQ) is as an endorsement to a homeowner type of policy. Many insurance companies will NOT permit adding the EQ to a home built before 1960.
EQ typically has a deductible between 10-20% of the Dwelling, Other Structure and Personal Property limits are a policy. Yes that is correct, typically 3 different deductibles apply: Dwelling, Other Structure and Personal Property.
WHY don't insurance companies offer EQ to all homes? The reason is in the way the insurance companies must set funds aside to pay claims. The insurance companies are required to set aside a much greater amount for EQ than auto or home. In addition the cost of re-insurance is very, very expensive for EQ.
IF EQ can be obtained this agency would highly recommend adding the coverage.
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