Earthquake insurance coverage not a priority for California home owners


California is earthquake nation, but in accordance to the California Earthquake Authority, practically 90 % of homeowners will not carry earthquake insurance coverage.

We had been reminded of the danger final week with a magnitude 5.1 quake in Orange County that rocked the Southland.  And here in the desert, the San Andreas Fault, capable of a a lot more substantial quake, runs via the valley.

The standard earthquake policy consists of a 15 percent deductible of the value of the house, and most earthquake policies are limited in what they cover when there is significant harm to a home.

“It won’;t cover your pool, it will not cover your spa, your detached garage, your retaining walls, your patio.  It will not cover individuals things, it just will cover your framework itself,” said Dan George, an insurance coverage agent at Canyon Pacific Insurance coverage Providers in Palm Springs.

The California Earthquake Authority and some stand-alone businesses do supply coverage for harm outside of the home itself, but naturally it comes at an additional price.      

Insurance agents suggest earthquake insurance coverage, but admit the numbers display the vast majority of homeowners are prepared to roll the dice simply because catastrophic earthquakes are rare.

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