If you have lived in areas prone to earthquakes, you understand how quickly just a few seconds can transform your life. Every year, millions of dollars worth of damage are incurred, and recovery can be difficult. Therefore, it is important to protect yourself in the event of such a disaster.

What Is It?

Simply put, an earthquake insurance policy is one that will pay a policyholder in the event of an earthquake that causes property damage, and most homeowner’s policies do not include this benefit. Therefore, homeowners should ensure they take the proactive measure in obtaining coverage.

How It Works?

It is important to understand how a policy works to ensure you get the best for your money. For example, many earthquake insurance policies have a high deductible. While this can prove beneficial if you sustain total damages on your home, it will not help if you only need assistance paying for minor damages. The rates are set in correlation with the likelihood of your area being impacted along with the material with which the home is made. Since wood is better able to withstand damage, you may get a cheaper rate if your home is primarily constructed with wood.

Types of Coverage

You have choices when it comes to the level of coverage you desire. Some plans offer minimal coverage for a lower premium while policies that are more helpful in the event of a disaster will cost more. There are some things to consider when determining your needs including:

Consider The Benefits

It is easy to think something terrible cannot happen to you, but it can. Having an insurance policy in place in the event of an earthquake can help you not only recover material belongings, but it can also prove crucial in surviving the days to come during recovery.