When you are in the market for home insurance, you may not realize that while a standard homeowner’s policy covers a lot of accidents and damages, it does not cover everything that could possibly happen to your home. There are times when you may find that your homeowner’s policy is not enough to protect you and your family from financial misfortune if your home is damaged.
Standard homeowner’s insurance policies do not cover damage from flooding or from earthquake activity. Deciding on purchasing either type of coverage is up to you, but making an educated decision is certainly within your best interest in order to protect yourself in case of an earthquake or flood.
According to the Insurance Information Institute, only 12% of Californian homeowners opt for earthquake insurance. Considering the number of earthquakes in California, that number is surprisingly low. Find out where your home lies on a seismic hazard map to determine a rough estimate of risk. If your home is close to a fault line, your risk is much greater. However, remember that your home could suffer damage even if you are not within the normal risk zone.
You can also check a flood map to see where your home lies within it as well. You may be required to purchase flood insurance if you are in specific flood zones. However, again, remember that even if you are not required to purchase flood insurance, you could still experience a flood on your property.
Getting a quote for either or both earthquake insurance and flood insurance is easy. All you have to do is call us and we will send you a quote. It is up to you whether you decide to purchase the policy, but it is always a good idea to know your options. Call us today for more information.