Do You Need Earthquake Insurance?

To buy, or not to buy earthquake insurance? After witnessing the devastation caused by earthquakes around the world, that question is on the front burner again. Whether you live in St. Louis or Seattle, it's hard to ignore that gnawing feeling in your gut that not having enough insurance could mean big problems in the event of a Big One.

Many homeowners, however, still hold off on purchasing insurance. Here in Washington, only 12% of home owners also have earthquake insurance. Why? Denial, for one. And cost, for another. Depending on the coverage options you choose, earthquake insurance will cover the cost of your damaged home and any assets that are damaged on your property.

How Much is Enough Coverage for Earthquake Insurance in Washington?

When you decide to purchase earthquake insurance, remember you should buy enough to cover the costs of rebuilding your house and replacing broken possessions. The amount of insurance you buy should be based on replacement and reconstruction costs, not the market value of your property and possessions. Things to consider:

• How much would it cost to partially or completely rebuild your home?
• How much would it cost to replace all of your possessions?
• If you are displaced while work is being done to rebuild, what would your relocation cost be?
• What is rent like in your area? How much would temporary accommodations cost?

Do not make the mistake of thinking earthquakes are regional or too far in-between – all of Washington is at risk for earthquake damage. Although some areas are much more at risk than others, no area is immune.

Get the facts on earthquake insurance. Call at 360-424-3000 for more information, or fill out the form above for a quote.