Here’s why homeowners need to secure earthquake coverage.
California homeowners know that the threat of an earthquake is always looming. Rather than sitting back and just hoping that “the big one” never comes, it’s much smarter to be proactive. One of the best ways to protect yourself, your loved ones, and your home is by investing in earthquake insurance. Here are some of the reasons why you should invest in this coverage:-
1) Your existing home insurance doesn’t cover everything
While you might assume that your homeowners insurance offers coverage for earthquake damages, you would be mistaken. Most standard home policies specifically exclude coverage for the damage related to earthquakes and earth movement. So, if you want coverage for structural damages and your personal property, you need to secure a specialty earthquake insurance policy.
2) Earthquake insurance can be quite affordable
Many California homeowners are reluctant to secure earthquake insurance because they assume that it will be expensive. However, the cost of your insurance is dependent on a variety of factors and taking certain steps can provide savings for you. So, speak to your insurance provider to see what you can do to lower your rates.
3) You can’t rely on governmental relief
Some homeowners assume that the government will step in and offer support following a major earthquake event. While FEMA can provide assistance if the President declares the quake a disaster, it’s not a good idea to bank on this happening. Even if the President does come through, there will be so many homeowners attempting to secure relief that it will be hard to get your share. Rather than relying on this shaky situation, you are better off having your own earthquake policy to rely on.
These are some of the reasons why you should buy earthquake insurance. Need help securing this essential policy? For assistance with all your coverage needs, contact an insurance professional at Westwood Insurance Agency today.