What is Earthquake Insurance?
Earthquake insurance is recommended for people who own property in earthquake zones. In the event of an earthquake, a policyholder can receive money to restore or repair their property. This insurance can be purchased for a home or a business. This coverage is likely not available outside of official earthquake areas.
The insurance company will have information on the geography of an area. The insurance company most know the likelihood of an earthquake occurring. They must also know the history of the area. This helps them decide if an area is within an earthquake zone. Discounts may be available if you make an effort to protect your home. If your home is located near or on a fault line, you will pay a higher insurance rate.
This coverage pays to repair or rebuild structures damaged following an earthquake. You can also insure your personal belongings that are inside the home.
The benefit of this coverage is the financial support. Recovering from an earthquake can be expensive. Having earthquake insurance makes things easier.