As you might already know, homeowners insurance policies in California typically do not cover damages from earthquake events. You must purchase this type of coverage separately, if you want to protect your investment from an earthquake. And since it’s not a matter of if we’ll have another large earthquake in Southern California, but more a matter of when it will happen, it’s vital that every homeowner in this area stays informed about their earthquake insurance options.
If you found earthquake coverage to be too limited or unaffordable in the past, you might be pleased to know that the California Earthquake Authority announced new options and rates this past January. If your home has been retrofitted to reduce earthquake damages, for example, you might be able to enjoy a discount on your rate. Even those whose homes are not retrofitted might find that earthquake insurance is now more affordable through the CEA.
Many private insurance companies are also offering insurance against earthquake damages. We can help you compare policies across different earthquake insurance companies, and rebuild your life.
If recent events are any indication, the Pacific “ring of fire” appears more active lately. A state of emergency is underway in Ecuador right now, due to two powerful earthquakes that recently rattled the area. As we know from past patterns, activity along one area of the Pacific ring of fire often translates into increased activity in another area before long.
Since it appears that things are “stirred up” at the moment, make sure you have created an earthquake disaster kit, including items such as flashlights, batteries, a portable radio, first aid equipment, essential medicine, and water in the house at all times.
And of course, there’s no better time to consider earthquake insurance. Give us a call, and we can help you examine your options.