Despite millions across 42 states being at risk for damage from an earthquake, few purchase Earthquake insurance to protect their property. Some may mistakenly believe Earthquake coverage is covered under their Homeowners, Condominium, or Renters policy or that if the quake is big enough, they will get assistance from the federal government. However, grants from the FEMA under its individuals and households program are capped at $36,000.
Olson Duncan can provide you with Earthquake insurance to protect your home. We work with a network of leading insurers, which enables us to procure the coverage you need in the event of quake damage. Coverage is available for:
Depending on your policy, coverage for other structures, such as a carport or toolshed, and debris removal may also come standard. Optional coverage may include building code upgrades, land restoration, and emergency repairs.
The amount of coverage you need as a homeowner is typically set at the same limits as your dwelling coverage under your Home insurance.
Compared to Homeowners insurance, it’s important to note that Earthquake policies contain a significant deductible, which is the amount subtracted from your claim payment. Insurers will deduct 10% to 20% of your dwelling coverage limit. For example, if you had $400,000 of coverage on your dwelling with a 20% deductible, you’d have a $80,000 deductible on your Earthquake policy. Yet, note that you would have no funding to rebuild without Earthquake insurance.
Our professional staff will review with you what policies are available from our different insurers, the limits and deductibles available for your structure and personal belongings, and how each responds in the event of a loss.
At Olson Duncan, we aim to provide clients a total solution, not simply a quote or an insurance policy. With us, you get real value and a long-term relationship based on trust. We would love to get to know you and answer any questions.
To learn more about how we can help you, please call our team at
