Earthquake Insurance

When the Puget Sound area experienced a significant eathquake in early 2001, many homeowners and tenants learned a painful lesson - standard homeowner and tenant insurance policies do not cover losses that result from earthquakes.

You can however, obtain insurance protection through the purchase of an earthquake endorsement to your standard homeowner policy or purchase a seperate Earthquake policy.

Why do I need earthquake coverage if I have a homeowner's policy?

Earthquake coverage is not part of a typical homeowner's policy. This means that any damage to your home caused by an earthquake must be paid by you... unless you protect your home with earthquake coverage.

How much is my deductible?

Unlike most homeowner or tenant policies, earthquake insurance primarily covers major losses and is considered catastrophe insurance. It normally is sold with deductibles equaling 10 to 25 percent of the structure’s policy limit which is displayed on your policy declarations page.

For example, if you structure's policy limit is $200,000 and you have a 10% deductible; you would be responsible for the first $20,000 of Earthquake damage to you home. Recently, the industry trend has been to raise deductibles.

How do I get Earthquake coverage for my home?

There are two ways to get Earthquake coverage for your home. Some insurance companies offer an Earthquake coverage endorsement which can be added to a homeowner's insurance policy, or you can purchase a stand-alone Earthquake policy from a company separate than your homeowner's policy.

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