If an earthquake strikes your area, the effects can be widespread and unpredictable. Earthquakes rarely strike with reliable notice. Therefore, those who live in earthquake-prone areas might face losses to their property.
Insurance coverage may come in handy when an earthquake threatens. However, a standard property insurance policy usually doesn’t cover earthquake damages. Most property owners need to buy earthquake insurance to cover related damages.
Earthquake insurance usually comes separate from a standard property policy. If you live in a high-risk quake zone, you might have to buy a separate earthquake policy or add a rider to your property insurance.
Like property insurance, policies will usually cover property damage caused by earthquakes. They also will usually cover certain expenses while you rebuild following an earthquake. Loss of use coverage may help you pay for daily essentials like food and board, while you repair damages.
If you live in a high-risk quake zone, preparation is key to minimizing insurance risks. Even though you may be able to claim loss of use funds, keep in mind that these funds may take time to become active. You might need vital supplies immediately following a quake. Take the time to put a preparedness plan in place.
- Know what resources are available to you in the event of a quake. Keep emergency services contact information on hand.
- Keep a supply of emergency essentials on hand. These may include non-perishable food, a supply of water, tools and medical supplies. Store these in a low-risk area of your home.
- Invest in an emergency generator, batteries, and other artificial power sources. You might need to use this system to restore power to your home following a quake. Only use generators if your home’s electrical and structural integrity are not compromised by the quake.
- Store your important documents in a safe or other reinforced area. This will reduce the chances of losses. Include insurance policies, photo identification, and important paperwork like bank forms. Make sure you can access quake insurance policies following an event.
- Have an evacuation plan in place. Make sure your family knows how to shelter in place, and where to gather following a quake.
With the right preparation, you can protect yourself and maximize the benefits of your loss of use policy.
We can help you get an San Francisco earthquake insurance policy that meets your needs. Call us at (415) 512-2100 today.