California Earthquake Insurance
California is a high risk state that requires home owners to strongly consider California Earthquake Insurance. This is coverage is a peril that is not typically covered by a typical home owners policy. Even is you are not in an “high risk” area earthquake coverage should be considered.
Earthquakes are a common occurrence here in the United States 39 states since 1900 had experienced an earthquake! This coupled with 90% of Americans live in an area that is considered to seismically active. This coupled with there is a 70% probability that one or more damaging earthquakes of magnitude 6.7 or larger will strike the San Francisco Bay area during the next 30 years! Should encourage all Californians strongly consider earthquake insurance.
In most cases earthquakes insurance is relatively inexpensive compared to the coverage purchased. We strongly encourage you to give Conxis Insurance Solutions Inc. a call to understand your earthquake coverage options.
Contact us today to learn more about California Earthquake Insurance. One of our dedicated agents will be happy to provide you with a thorough coverage evaluation, as well as offer you a free quote right now! Give us a call at 714.563.4333 or send us your information by using the form below.
What Does California Earthquake Insurance Cover?
California Earthquake Insurance pays for reasonable costs that you sustain from the loss of your residence in the event of quake damage. There are three major areas of the policy your home (dwelling ), personal property, and additional living expenses (ALE).
- Dwelling– would cover cracks in the walls, ceiling and foundation or other damages.
- Personal Property- include protection for furniture, electronics, and other belongings.
- Additional Living Expenses– loss of use can cover a variety of things while a home is repaired within a reasonable timeframe or until a policyholder finds a new home. You might able to have your insurance company reimburse you or pay for a temporary rental home, apartment, hotel room, restaurant meals, or a temporary telephone line. Moving, storage, furniture rental, and laundry can also be covered.
What Does California Earthquake Insurance NOT Cover?
It is important to understand that your California Earthquake Insurance coverage does have some areas that you may of thought were covered and they actually aren’t. Here are a couple of things to note:
- Fire Caused By Earthquake
- Fences or Pools
- Land – Landscaping or sink holes
- Water Damage – Flooding or Tsunamis
Now What? Do I Need California Earthquake Insurance?
It comes to you and what your financial position. Can you afford the cost of rebuilding your home in the event of a total loss? If so can you also afford the cost of living in an alternate location while your home is being rebuilt? Can you replace your personal belongings damaged in an earthquake? These are all questiosn that you need to wrestle with as typically your home is your single biggest investment that you will make. Thus, a lot of consideration needs to be placed in protecting this investment for bot now and in the future. Take the time to investigate, reach out to us and we can help you with the process!