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Earthquake insurance

• It provides coverage if your home is destroyed by an earthquake.
• It's a separate endorsement you must buy and add to your homeowner or renters policy.
• You can also buy a stand-alone policy separate from your homeowner policy.
• Generally, this coverage isn't available for a period of time after an earthquake.

What it may or may not cover

• It could cover damage caused by:
• Landslides
• Settlements
• Mudflows
• Rising, sinking and contracting of earth
• It generally doesn't include damage caused by floods, tidal waves or tsunamis – even if they're caused by an earthquake.

How earthquake insurance works

• It's usually sold with deductibles equaling 10 to 25 percent of the structure’s policy limit.
• It only pays for damages that exceed the deductible.
• Some policies treat contents and structure separately. You may have a separate deductible for:
  
  • The contents
  • The structure
  • Unattached structures like garages, sheds, driveways or retaining walls
• Not all policies are alike. Compare companies to get the coverage that fits your needs.

What to expect from insurers

• Some earthquake insurers may require an inspection of your property before they'll agree to issue you a policy. They could consider:
  • Whether or not your home's bolted to its foundation
  • The location and bracing of your home's interior walls
  • If you have strapping guards to secure fixtures, such as water heaters
• Be aware, insurers may have different coverage requirements.

Updated 04/17/2012