Although the most extreme California earthquakes occur near plate boundaries around the world, they can occur anywhere on the planet with little or no warning. Earthquakes are experienced during sudden movements of the Earth's crust when the plates shift. Large sections of the crust can fracture and move to-and-fro releasing an enormous amount of energy in the form of waves. This causes the shaking sensation.
Damaging aftershocks can occur after the initial quake and although they are smaller in magnitude, they can cause more damage than the initial quake. Earthquakes can cause catastrophic damage to structures and buildings and if gas lines are ruptured, there are often fires. It has been estimated that a major earthquake in a populated area of the United States could cause as much as $200 billion in damages.
Is your California, Florida, or Washington home covered if an earthquake does occur? Most ordinary homeowner's policies do not cover earthquake losses. Rebuilding or repairing your home can be costly but the expense doesn't end there. Your personal property can be damaged and you may need to pay for temporary housing if the earthquake causes structural damage to your home, making it uninhabitable.
The rates for Earthquake Insurance vary significantly and if you are in an earthquake-prone area, the cost of this insurance is relatively high. In other areas the premiums are relatively inexpensive. Whether you own a house, mobile home, or condominium, or you rent, there is an earthquake insurance policy that can help you repair, rebuild, or replace when you are faced with damages caused by an earthquake.
There is no way to predict exactly when or where an earthquake will happen. Our agents can help determine your risk and protect your property if an earthquake does occur.