Do you have a Quality Earthquake Insurance Policy with your CA Insurance Company?

How can we be prepared in the event of an earthquake?  I am sure many of you have heard of the recent earthquakes that have taken place, in Colorado and Virginia, all over the news.  The 5.3 earthquake that struck Valdez, Colorado was the largest quake they have had since 1967.  The 5.8 earthquake that struck Virginia was also felt in New York.  The Huffington Post article stated that a 5.5 quake could be felt as far as 300 miles.  I grew up in California and have felt many earthquakes.  Some of which have been quite small and others were pretty large in magnitude.  All natural disasters cause some fear for most people, but earthquakes always bothered me because I felt as if I could not be prepared for them.  Earthquakes are natural disasters that come without warning, since there really are no precautionary signs.  While Professional Choice Insurance may not be able to predict when an earthquake will take place, we can certainly help you and your loved ones prepare for an earthquake.

How do you know if you need California earthquake insurance?  Did you think that maybe your California Home Owners Insurance policy would cover the damage caused by an earthquake?  In an article by Daily Finance it states, “This is a decision every homeowner must decide based on location, the value of their property, amount of equity in the home, proximity to a fault line, type of home construction and the value of belongings.”  There are very few CA Homeowners Insurance policies, or even CA Business Insurance policies, that will cover damage from a quake. United Policy Holders provides a buying tips guide to assist homeowners and renters to know which type and how much coverage they need. 

The California Earthquake Authority (CEA) asks a question that we should all be asking ourselves, “Do you have the strength to rebuild after the next damaging earthquake?”  Is it more expensive to pay the deductible for earthquake insurance, or rebuild after the damage caused by an earthquake?  The deductible for Earthquake insurance is calculated based on a percentage, rather than a dollar amount.  The Daily Finance article states, the deductible “can range from 2% to 20% of the replacement value of the structure.”  Furthermore, “In California, the standard CEA policy includes a 15% deductible, and only covers the house, not additional structures on the property such as pools or garages.”  The amount you pay for earthquake insurance really depends on many factors.  Some interesting details to be aware of when you are purchasing your earthquake insurance policy are, “Older buildings cost more to insure than newer structures; brick structures cost more than wooden ones, which can tolerate shaking better,” according to the Daily Finance article. 

While Professional Choice Insurance can help you prepare financially for an earthquake we also want to make sure you are prepared as an individual and family.  The State of California Department of Conservation has extremely useful information so that all individuals can know what to do in the event of an earthquake and how to properly put in order your home and place of business.  The Department of Conservation strongly recommends having food storage in your home.  An excellent source for food storage is daily bread.  For pricing and more info you can call (801) 655-3105, or email Matthew Mendel at: matthewmendel@gmail.com.  Please call your California Insurance company, Professional Choice Insurance, today, to get your free California Insurance quote.