Earthquake Insurance

Despite the fact that many people live in areas where earthquakes can happen, very few people actually have earthquake insurance. People who live in places that are especially prone to earthquakes should consider it. While not available in most property insurance packages, it can be purchased as an add-on.

Many earthquake insurance plans have a high deductible. A deductible is that portion of a claim not covered by the insurance policy which the holder must pay before the claim can be processed. The deductible can be anywhere from five to fifteen percent of the policy amount. As a result of this, minor damages caused by an earthquake translate to very small claims. Policy holders who experience massive damage to their property are the ones who will 'benefit' the most.