“It won’t happen to me”
The phrase that we rationally know is never true, yet we instinctively believe in our subconscious. When we see homes destroyed by fire, storms, or flooding, we shake our heads and one part of us knows that it could easily happen to us, but another part of us somehow believes it never will.
When the truly disastrous happens, it’s critical that you have a trusted partner by your side. That’s why at Intelli Choice Insurance, we work hard to make sure you’re set up with an insurance provider who will provide you reliable and responsive coverage, no matter what you have to face.
We offer 2 types of specialty disaster coverage to give you the security you need for the uniquely unexpected. These are specialty types of insurance that cover specific risks that may not be included in your standard home or other property insurance, but may be required based on where you are located.
Even if you live in an area where earthquakes are not common, you may still need earthquake insurance.
Do I need earthquake insurance?
Most home, condo and renters insurance policies do not cover damage caused by an earthquake. Yet, earthquakes have occurred in 39 states since 1900, and about 90% of Americans live in areas considered seismically active. Fortunately, earthquake coverage can be purchased as an endorsement or a separate policy. For many of our customers in Kentucky, earthquake insurance can be inexpensive.
Almost the entire US would be better protected by purchasing earthquake insurance. Consider the facts:
In the West - According to the U.S. Geological Survey, there is a 70% probability that one or more damaging earthquakes of magnitude 6.7 or larger will strike the San Francisco Bay area during the next 30 years.
In the East - The Earthquake Education Center at Charleston Southern University claims there is a 40% to 60% chance of a major earthquake somewhere in the eastern United States in the next 20 years.
In the Midwest - According to the Insurance Information Institute, there's a 40% to 63% chance the New Madrid Fault (which runs through Arkansas, Kentucky, Missouri and Tennessee) region will suffer an earthquake with a 6.0 magnitude in the next 15 years.
What Does Earthquake Insurance Cover?
Earthquake insurance provides coverage if your home is damaged by an earthquake, but the specifics can vary depending on your policy. There are several options to consider when purchasing earthquake insurance, including:
- Does the policy cover only your home? Are other structures, such as garages, also included?
- Will your policy pay for the contents of your home and for additional living expenses if your home is badly damaged or destroyed?
- Are there any exclusions or limitations to coverage?
- What deductible must you pay before the insurance kicks in?
An earthquake endorsement generally excludes damages or losses from floods and tidal waves – even when caused or compounded by an earthquake. However, if you experience a loss due to a landslide, settlement, mudflow, or the rising, sinking and contracting of earth, your endorsement may cover it if the damage resulted from an earthquake.
Earthquakes Can Happen
Earthquakes can occur in unexpected places. In Kentucky, there's usually at least one earthquake a month. Ohio experiences fewer earthquakes, but they still occur each year. It only takes one earthquake hitting an unprepared and uninsured home to cause damage that will take years to repair.
Prepare yourself now so you aren't scrambling in the event of an emergency.
Plan for Disaster
- Make sure your water heater, gas appliances, and other fixtures are fastened securely.
- Check that bookcases and furniture are secure and fastened to walls.
- Have a family emergency plan that all family members know. Designate a meeting place outside the home where family members can gather once the danger has passed.
- Designate a distant relative or friend who can serve as a point of contact and communication for you and your family members if you get separated.
- Keep flashlights, batteries, and candles on hand. Have a portable radio.
- Be sure everyone in your house knows how to turn off utilities (electricity, water, and gas).
- When shopping for earthquake insurance, ask the company to help you identify possible repairs and other improvements that will make your home safer and minimize damage.
When an earthquake strikes
- If you are in a car, stop safely away from structures, large trees, power lines, and other hazards. Stay inside the vehicle.
- If you are inside when an earthquake hits, stay inside and get under a heavy table or desk. Stay away from windows.
- If you are outside, get away from buildings and power lines, and remember that stone and masonry facings can break loose and fall away from upper parts of buildings.
- Don’t use candles until gas lines are checked.
- Check throughout your home before you use utilities, such as water and electric, sewage connections, and even chimneys
- Don’t tie up phone lines except to report emergencies
- Keep your family together
- Stay alert for aftershocks.
Find the Insurance That is Right for You
Earthquake insurance needs can vary significantly – talk to us today to find out how to get the best price and value on earthquake insurance for you.