If you own properties or manage them, it’s smart to think about protecting them against earthquakes. You might not know this, but you can usually add earthquake coverage to the insurance you already have for your properties. This short guide will help you see why getting earthquake insurance is a good idea, even if earthquakes don't happen often where your properties are.
Earthquake insurance helps pay for damage to your property if there's an earthquake. Most of the time, the regular insurance you have won't cover earthquake damage. But the good news is you can add it to your existing policy pretty easily.
You might think you only need earthquake insurance in places like California, where earthquakes are more common. But the truth is, earthquakes can happen in places where you least expect them. And if you're in an area that doesn’t usually have earthquakes, the insurance can be really cheap. It’s a small cost for a lot of peace of mind.
Think about how much it would cost to fix or rebuild your properties without insurance if an earthquake hit. Then, compare that to the cost of adding earthquake insurance to your policy. For many people, especially in places where it’s cheap, getting earthquake insurance makes a lot of sense.
For anyone who owns or manages properties, getting to know your options for earthquake insurance is smart. It’s not just about having insurance; it’s about understanding what risks your properties face and protecting them in a way that makes sense for your budget. In many cases, getting earthquake insurance is an important step in keeping your investment safe.
This article is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.