Earthquake Insurance

What Does Earthquake Insurance Cover?

 

Earthquake insurance can help pay for repairs and expenses related to earthquake-specific damage. Some exclusions, such as floods or landslides and exterior structures, help focus earthquake coverage on the unique impact caused by seismic events.

 

Here’s what it typically covers:

 

• Dwelling: Safeguards your home’s structure and pays for repairs or rebuilding costs for your foundation, walls, roof, and attached fixtures.

• Personal Property: Repairs or replaces damaged belongings inside your home, such as furniture, electronics, and appliances.

• Additional Living Expenses: Covers costs for temporary housing and living expenses if your home becomes uninhabitable due to an earthquake.

• Other Structures: Protects detached structures on your property, like garages or sheds, and covers the cost of repairs.

• Building Code Upgrades: Provides for building code upgrades if you need to get a reconstruction permit to rebuild after an earthquake.

• Loss Assessment: Protection for damage or loss in a common area shared with other property owners.

• Debris Removal: Typically covers the cost of clearing away the rubble and debris resulting from earthquake damage.

Earthquake insurance available through GeoVera Advantage, a SageSure-affiliated full-service brokerage, is offered on a Single Limit, Split Limit, and Flex Limit basis.

 

• Single Limit: Offers coverage for the dwelling, other structures, personal property, and additional living expenses under one limit.

• Split Limit: ​Offers fixed limits of earthquake protection for dwelling, other structures, personal property, and additional living expenses.​

• Flex Limit: Offers flexible limits by coverage type, enabling customization of limits by dwelling, other structures, personal property, and additional living expenses.​

How Much Does Earthquake Insurance Cost?

 

Though earthquake premiums can range from $800 to $5,000 on average nationwide, it’s worth noting that rates vary based on the home’s risk exposure, structural features, and other variables. In general, properties in areas prone to seismic activity typically have higher premiums.

 

Key factors affecting the cost can include:

 

• Property’s location, size, and age.

• Building materials used.

• Type of foundation.

• Cost to rebuild.

• Deductible you select.

 

Earthquake insurance provides peace of mind and a financial safety net for life-changing events. If you live in an area that experiences earthquakes, this essential coverage can help protect your largest investment—your home.