Protecting your home from earthquakes.

As a California homeowner, you know that your risk for earthquake damages are high.  Unfortunately, your standard homeowners insurance in Lancaster, California, won’t offer coverage for any damages related to an earthquake.  So how do you get the protection you need?  This is where specialty earthquake insurance comes in; here’s what you need to know.

What does home insurance cover?

Home insurance policies provide coverage for many common perils.  For instance, the following threats are all covered under standard homeowners insurance policies:

  • Fire and lightning
  • Windstorms and hail
  • Smoke damage
  • Explosions
  • Vandalism or malicious mischief
  • Damage caused by aircraft or vehicles
  • Volcanic eruptions
  • Theft

However, there are certain damage events that are too costly to be covered by standard home insurance.  For instance, earthquakes are almost always excluded from home insurance policies because the damage they cause is so widespread and expensive.  This is why homeowners who face the risk of earthquakes need to secure special forms of insurance.

What is earthquake insurance?

Earthquake insurance offers coverage for the damages caused by an earthquake.  This coverage extends to the structure of your home, as well as the personal belongings that may be damaged or lost in a quake. Please note that earthquake insurance only offers coverage for your home and personal belongings inside it.  Other things, such as your car, will not be covered.

Earthquake insurance rates vary widely depending on where your home is located.  Homes in low-risk areas will usually have lower insurance costs.  However, if your home is located near a fault line, then your premiums will be significantly higher.  Your rates may also be higher if your home is older or considered “high-value.”  Additionally, your earthquake insurance will also be more expensive if your home is made of non-flexible materials like brick because these materials do not stand up well to the stress caused by an earthquake.

This is what you need to know about earthquake insurance.  Do you have additional questions about your homeowners insurance in Lancaster, California?  If so, then contact the experts at John E. Peakes Insurance Agency.  We are ready to assist you with all your coverage needs today.

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