Earthquake Insurance
Coverage for shaking damage, sold separately or by endorsement because property policies exclude earth movement.
Overview
In California most policies come from the state backed California Earthquake Authority with deductibles set as percentages of dwelling coverage, commonly 10 to 20 percent, meaning a 600,000 dollar home with a 15 percent deductible carries 90,000 dollars of risk before payout. Coverage often excludes masonry fences, pools, and landscaping, and masonry veneer may be limited. Premiums reflect construction, proximity to faults, soil type, and home age, with retrofitted wood frame homes priced best. Fire following an earthquake is handled under different rules by state and form. Roughly 10 to 13 percent of California homeowners carry the coverage despite the exposure, a persistent underinsurance puzzle.
Related Topics
Homeowners Insurance
The dominant HO-3 form covers the dwelling for all perils except named exclusions and contents for named perils such as fire, wind...
Renters Insurance
Policies typically cost 10 to 20 dollars a month because contents, not structure, are insured, making it among the cheapest protec...
Condominium Insurance
It covers personal property, betterments and improvements inside the unit, loss assessment charges, liability, and loss of use. Th...
Flood Insurance
In the United States the National Flood Insurance Program dominates, delivering most policies through private carriers with reside...