RVInsurances.com | Why You Want Earthquake Insurance if You Live in California

Why You Want Earthquake Insurance if You Live in California

When a serious seismic event transpires, the overall fallout can have lasting effects.  But the emotional “aftershocks” can reverberate well into the future…even after the shaking stops.

Where do you turn when the very ground beneath your feet is unstable? 

Read on and we’ll equip you to face this possibility with confidence and strength.

The Great California ShakeOut and Earthquake Insurance

If you’ve grown up in California you surely remember those earthquake preparedness drills that encouraged you to “drop, cover, and hold on.” The importance of these tests can’t be overstated, as they drill into young minds the necessary steps to take.

In October, millions of people worldwide will join in the 13th ShakeOut from their offices, classrooms, and homes. Practice makes perfect in preparing and recovering quickly when a big earthquake does hit.

The goal of the annual event is to assist organizations and families to not only survive but also recover from this type of natural disaster.  You or your organization can register online, and don’t forget to spread the word that you’re participating.  Last we checked there were almost 3 million people signed up globally!

Earthquake Insurance in California

People who find themselves in the state of California take for granted that while not commonplace, major quakes have hit the region throughout its history.

The “Golden State” has the highest risk of suffering a serious earthquake when compared to the rest of the country.  While the degree of risk does vary within the state itself, emergency preparedness for such an occasion should factor heavily into the strategies of every institution. 

The San Andreas fault runs from California up to Washington, but what most people don’t realize is there’s another major one that runs through the Midwest that could cripple 5 states.

Well, you say, that’s all fine and good, but what if I’ve never felt a tremor in my life?

Is Earthquake Insurance Worth It? 

Well, if you factor in that according to a study done by USGS, the odds of a magnitude 6.7 or greater quake is 99% over the next 30 years…we sure think so!  Additionally, most homeowners’ insurance won’t cover loss and damage from this type of event. 

Earthquakes happen in every state in the United States, and when you approach 7.0 on the Richter scale the frame and masonry on a dwelling can be dealt calamitous damage.  This can lead to repair costs that equal more than 30% of your home’s value.

What Does Earthquake Insurance Cover?

Things that can be included are:

  • Dwelling
  • Other structures
  • Personal property
  • Loss of use/fair rental
  • Loss assessment

Earthquake Insurance for Renters

Although it’s not required when you don’t own the dwelling you inhabit, it’s still wise to think about purchasing earthquake insurance.  Renters should be aware that the policy they sign with the owner doesn’t cover damage to their personal property.

Protecting yourself from the high costs associated with “earth movement” damage requires some openness to a separate policy or earthquake endorsement as an option.  A good question to ask yourself when seeing if this makes sense in your case is, “Can I afford to replace my belongings if a large quake occurs?”

If the answer is no, it’s still a personal decision but the pros and cons of being caught without one should be looked at.

When it comes to what could be expensive appliances you own or paintings for example, it’s typically better to be safe than sorry.

Cost for Earthquake Insurance

Most people are familiar with the type of planning and supplies to keep on hand but preparing financially is one of the areas that typically gets overlooked during these extensive preparations.

How Much Does Earthquake Insurance Cost?

This is dependent on the type of plan you select.  A standard plan will include the dwelling, while comprehensive plans will also cover other structures and property. 

The average cost for earthquake insurance is between $100 and $300 per year for most states.  If you live in Alaska, Oregon, Washington, or California however, this number can rise to around $800*.

*Note: for California residents there is a discount program offered by the California Earthquake Authority and Governor’s Office of Emergency Services to lessen the overall earthquake insurance cost.  To qualify your dwelling must be bolted and braced to the foundation.

One thing to also be aware of is that even if you get this type of insurance, the deductible on your standard policy won’t apply. 

An earthquake insurance deductible is: 

  • % of dwelling coverage limit for a homeowner’s policy
  • % of personal property coverage on a renter’s policy

RVInsurances.com and Earthquake Insurance

By now, you’ve been presented with the case supporting the purchase of earthquake insurance.  California and the Western United States in general are prime candidates to take advantage of this coverage.

RVInsurances.com founder, Marty Adair, has been a licensed Property and Casualty Broker since 1997. He started his insurance career working in his family’s insurance business where they specialize in Mexico tourist Auto Insurance. While assisting customers with their Mexico Insurance policies he realized there were large groups that travel to Mexico in their high valued RVs to vacation. It soon became apparent that there was a need for specialty RV insurance that would extend coverage across the US and Mexico border that could save his RV clients thousands of dollars per year.

Today RVInsurances.com provides the best possible service to the RVING community. We are a full-service insurance agency specializing in full-time and part-time RV enthusiasts. We represent the top-rated RV specialty insurance companies in the nation to provide the best possible policy for the right price. We are licensed in many states to help with your RV insurance needs.

Need an earthquake insurance quote? We’d be happy to provide one, just Click here and complete the form and we’ll get right back to you!

You can trust us to provide you with the best rate due to the simple fact that we work with the top earthquake insurance companies.  Reach out today!

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