Earthquake Insurance
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An additional hazard is earthquakes. Currently prominent in the United States, with over 39 states falling victim, these natural disasters not only ruin homes, but they also deplete funds. Although people assume they'll be covered if they have homeowners insurance, earthquake insurance is an entirely separate policy. Sadly, with a 70% chance that one or more serious earthquakes will hit California in the next 30 years, it is vital that this type of insurance is purchased. After all, the last serious earthquake was the 1994 Northridge incident that racked up $20 billion in damages.
According to the South Carolina Insurance News Service, it is recommended that residents who reside in earthquake prone areas purchase policies. If there is evidence of earthquake activity in your town, chances are likely that earthquake insurance will be relatively cheap. Even if it is not a common occurrence, it is still safe to purchase the minimal amount. This way you will not have to worry about your home or your wallet in the long run.
Interested in purchasing earthquake insurance? A legit homeowner's insurance company should point you in the right direction. Normally, a private agency will give you a lower rate. Still, if you run out of resources, the company websites can provide assistance. Also, the internet is filled with customer reviews - honest answers that will undoubtedly give you a new perspective. Moreover, if you live in the California area, check out www.EarthquakeAuthority.com.
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