Am I Protected Against Earthquake Damage?

An earthquake is a rare natural phenomenon in which the Earth’s surface moves, creating a movement called “seismic wave”. The earthquake can cause tsunami where the ocean or sea produces a great wave that can flood an entire city. Earthquake is indeed very fatal, and could cause fatalities of our people. Just imagine yourself in that situation. You will surely think how you will recover if ever you survive in calamity like this. As you live in your house, it will come up to your mind if how long will your house exist or if not, what will you do if you lose it. There are so many possible things that may happen for your house to vanish. There’s so many “how will” questions for your “what if” situations. What if your house will be burnt down, what if there will be an earthquake what the tornado will fly your house? How will you build a house again? How will you repair the damage? How will you cope up with the loss you have? That’s when insurance appears. But do you really know the coverage of your insurance?

Are you wondering if earthquake damage is covered by your homeowners’ insurance? The very answer is, no. It is very sad to know that standard homeowners insurance will not cover any earthquake damage that may occur in any places. There may be insurance for these kinds of calamities though, but it will surely add more expense to any homeowners. As a homeowner, you may think that your insurance as a homeowner covers all possible calamities that may happen in your house or property. The homeowners insurance will only cover damages that are caused by anything that is not from a natural calamity.

When you are referring to homeowners’ insurance if they will cover the earthquake damages, they will not. But there is still a chance to insure your property from natural calamities such as when your house is in fire, the earthquake divided your house into two or the tornado flew your house from where it should be. You have only one option, which is to purchase hazard insurance and add it up to your premier. Hazard insurance covers damages such earthquake damages and the damages that is caused by fire, wind or storm. It is quite expensive though but you will surely be more comfortable if you know that your property or your very home is insured. The cost of insurance in earthquake damages depends on the area you live in. If the area is more prone or earthquake occurs frequently, then it costs more than the area that has less possibility of an earthquake to occur. That’s the reason why the cost of insurance differs from one place to the other.

Unlike hurricanes, typhoons, and tornadoes, scientists can never tell when the earthquake will occur, which is why it is indeed very important to prepare for calamities like these. Earthquake damages will be severe or not, it depends on the earthquake’s intensity. The essential thing about it is—we should be prepared for any sudden catastrophes that are very possible to happen.