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Why You Should Invest in Earthquake Insurance

The Importance of Earthquake Insurance Coverage

According to the National Earthquake Information Center, 12,000 to 14,000 earthquakes occur around the world each year. With more than 500 active faults in California, it is not uncommon for residents to experience the effects of an earthquake, especially when most live within 30 miles of a fault. A high-magnitude earthquake can cause serious damage. Unfortunately, homeowners and renters insurance policies do not cover any of the damages that may have occurred to your home or personal belongings. While unpredictable and infrequent, it is still important to have the proper coverage in the event that an earthquake strikes. Learn more about earthquake insurance with Nickerson!

What Earthquake Insurance Covers

You may be wondering what earthquake insurance covers. Earthquake insurance covers potential repairs to your home due to damage, the replacement of personal belongings that may have been ruined, and possible living expenses if your home is unlivable and requires rebuilding. It is important to note that this type of insurance does not cover damage to any vehicles as well as if a flood or fire starts as a result of an earthquake. Bottomline, earthquake insurance protects homeowners from financial instability and loss in the event of a devastating quake. 

Damage Caused By Earthquake

Earthquakes can cause different types of damage. They can cause your home to partially or fully collapse, objects can fly off shelves and break, a gas leak could occur, a fire could start, and more. These damages can result in the loss of both valuable and sentimental items.

How Insurance Cost is Determined

How much does earthquake insurance cost? A number of factors are taken into consideration when determining the cost of earthquake insurance. Some of these factors include when the home was built, the size of the home, the home’s foundation, the location, and your deductible. Homes that are located closer to faults will have a higher cost than those that are not. To figure out how much earthquake insurance will cost for you and your family, you can use the California Earthquake Authority’s online premium calculator. 

Extra Safety Measures to Take

While purchasing earthquake insurance is a good step to take, there are also other things you can do to protect your home and family in the event of an earthquake. It is important to know what to do if you are inside when the shaking begins. You must drop to the ground, cover your head and neck, and get under something sturdy that you can hold onto, such as a table. We also recommend that you secure cabinets and furniture to the walls, install safety shutoff valves to gas lines, and brace water heaters. 

Contact Nickerson Today

If you have recently moved or are now considering earthquake insurance, contact the expert insurance agents at Nickerson to discuss the different options available. We are more than happy to answer any of your questions and help you find the policy that best protects your home and your family. The state of California is the nation’s highest-risk area when it comes to earthquakes and coverage is valuable.

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