Simply Explaining Insurance #126- Earthquake!

Well, I finally have my earthquake story. We had one yesterday here in Idaho and I swear the first thing I thought of was about insurance. It wasn’t that bad but it wasn’t one that you had to question, “Was that an earthquake?” It measured 6.5 on the Richter scale and its epicenter was about 100 miles from here. Thankfully no one was hurt and nothing was damaged.

In a nutshell, Earthquake coverage is something that you can add as an endorsement to many homeowners policies. You cover the entire amount of the home. You can’t insure half your house on this coverage.

The deductibles are higher as well. The lowest that I can offer on our new products are $10K. Some of our older home policies have a $5K deductible available.

There is no traditional waiting period here in Idaho for these. Although after an earthquake over 5.0 and within a certain radius, you can’t add this endorsement for at least 72 hours.

As always, call your agent for more details on your policy as this coverage and these policies may vary from state to state.