Earthquake Insurance
Earthquake insurance in Washington State is very important. Experts agree that the Pacific Northwest is overdue for a major earthquake. Even a modest earthquake could cause damage to your home and ultimately your investment.
You May Not be Covered
Don’t make the mistake of assuming that your homeowners insurance policy will cover you in the event of an earthquake. Typically, most homeowners insurance policies exclude coverage for earthquakes. A comprehensive earthquake insurance policy will cover your house, other structures like your detached garage or shed, and even your personal property.
Own a Home?
Earthquake insurance is something to consider given the fact that you own your home and have substantial assets. A major earthquake could destroy everything, but how much does earthquake insurance cost?
How Much is it?
The cost of earthquake insurance depends on several factors including where you live, how much your house is worth and what type of coverage you choose. Deductibles will affect your premium as well. Having a higher deductible can cut the cost of earthquake insurance, while still providing quality protection.
The unexpected can happen at any time. According to the Pacific Northwest Seismic Network, there are about 18 earthquakes worldwide of 7.0 magnitude or greater.
With the major earthquakes we have witnessed in places like Japan, Haiti and Indonesia, it is important to take appropriate steps to prepare and protect yourself. Earthquake insurance is a great way to do just that.