- A standard homeowner's or renter's policy does not, repeat not, cover earthquake damage.
- Unlike homeowners coverage, earthquake insurance is designed to cover catastrophic damage. Deductibles of 10 percent to 25 percent of a structure's value are common.
- Earthquake insurers often temporarily suspend sales of new coverage after a quake. They do this to limit their exposure in case of aftershocks.
Tuesday, August 23, 2011
Earthquake insurance 101
An earthquake rumbled across much of the East Coast today, startling folks in a region not known for quakes. So it seemed like a good time to highlight the basics of earthquake insurance. Among them: