Recent Tremors Shine Light on Earthquake Insurance

“So you don’t have insurance? No.” This is a common answer for many people when it comes to earthquake insurance. Unfortunately, people often need to personally experience a natural disaster to make them consider getting coverage. The recent quakes near the Coachella Valley are now putting a spotlight on getting property insured in case of possible damage.

Having coverage can help greatly offset any repairs, as, without the insurance, the homeowners themselves are responsible for the repairs out of pocket. It serves as a safeguard against a potential catastrophe. According to the California Earthquake Authority, insurance rates have dropped about 50 percent in recent years, with the average yearly premium now about 750 dollars. This means its actually more affordable and more attainable than people think. With more than 1 million policyholders, CEA is one of the world’s largest providers of residential earthquake insurance. Since 1996, CEA has been encouraging California homeowners, mobile home owners, condo-unit owners and renters to reduce their risk of earthquake damage and loss through education, mitigation, and insurance.

It’s peace of mind that homeowners can have if the “Big One” ever hits our area.

[Adapted from source: kesq.com]

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