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Have You Considered Your Earthquake Insurance Needs?
With the recent release of the Hollywood movie San Andreas, the world turned its attention back to the risk of earthquakes that all California residents face. It is common knowledge across the country, if not across the world, that California faces constant danger from earthquakes. Yet few Californians have earthquake insurance!
Despite relatively recent serious earthquakes including the 1989 Loma Prieta earthquake and 1994 Northridge earthquake, only 10 percent of California homeowners are currently carrying earthquake insurance. Why is that?
Many people do not know they are uncovered. People commonly think that their homeowners insurance covers against all natural disasters, including earthquakes. Others assume that the federal disaster relief would help them rebuild their home and replace their belongings. Actually, though, people need to secure separate earthquake insurance policies to be protected against the ground’s quaking and the damages it causes. Otherwise, they could be left denied coverage or left with insufficient protection from the government to rebuild their quality of life.
Others are foregoing coverage because they think they cannot afford it or that the cost makes it worth skipping. When compared to the major expense they would face after an earthquake, though, the cost of earthquake insurance is negligible. Plus, today’s insurers are willing to work with homeowners to adjust their deductibles and premiums to make this a cost-effective coverage for the average consumer.
Ultimately, California homeowners need to think seriously before they simply skip earthquake insurance.
Do you have the earthquake insurance you need to have a firm foundation in the face of even the most major quakes? To learn more about how to protect yourself against this serious California risk, contact Cook, Disharoon & Greathouse. As California residents ourselves, we are experts on the coverage your Oakland home or business needs to be safeguarded.
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