Earthquake Insurance in La Habra, CA
There are many risks and exposures that may affect your home and property. Maintaining a robust and diverse insurance portfolio can give you access to crucial financial resources in response to various incidents that may otherwise lead to high out-of-pocket costs. Regardless of how diligently you may maintain and protect your home, certain incidents, such as earthquakes, may be inevitable.
What Is Earthquake Insurance?
Earthquake insurance provides essential financial protection following an earthquake. This type of insurance is generally not included in homeowners and renters insurance, meaning that it must be purchased as additional coverage via an endorsement on one of the aforementioned policies or on its own. If an earthquake damages your home or its contents, an earthquake insurance policy may make all the difference in recouping your losses.
What Does Earthquake Insurance Cover?
The financial consequences of earthquakes can extend beyond the physical structure of your home. With that in mind, an optimal earthquake insurance policy may be able to provide coverage for the following:
- Residence—If the structural elements of your home are damaged or destroyed, your insurance may help pay for repairs or even a full rebuild.
- Other infrastructure—This coverage can provide financial assistance if driveways, walkways or other structures on your property are damaged.
- Possessions—Earthquake insurance can help you recoup losses related to belongings stored on your property, including furniture, electronics and other valuables.
- Temporary living expenses—If an earthquake forces you to vacate your home temporarily, this coverage may help pay for additional costs you incur, such as for restaurant meals or hotel accommodations.
Does Earthquake Insurance Cover Water Damage?
Water damage can wreak havoc on your home, incur high costs and even make it temporarily uninhabitable. You should take the time to understand how your insurance portfolio covers such incidents. In general, water damage caused by burst pipes may be covered by your homeowners insurance policy; however, both homeowners and earthquake coverage should not be relied on to provide financial aid if an external water source causes flooding. With that in mind, a separate flood insurance policy may be advisable.
How Much Does Earthquake Insurance Cost?
Like most types of insurance, the cost of earthquake coverage may vary significantly. Before being able to provide you with an accurate quote for an adequate policy, insurance providers must carefully assess the details and circumstances of your property. In general, this process may include an analysis of the following criteria:
- Assessed value of your property
- Age of your home
- Number of stories in your home (including basements)
- Structural details (e.g., materials used for foundations and framing)
You may be able to make improvements around your home to provide it with greater earthquake protection and therefore lower your insurance premiums. A qualified insurance agent can help discuss your options.
Acquire Optimal Coverage
Earthquakes can happen suddenly and incur devastating financial losses in seconds for even the most prepared residents. In the aftermath of one of these disasters, your earthquake insurance policy may provide critical funds to ensure that you can recover financially. You need adequate coverage to be able to repair your home, recoup lost belongings and maintain your lifestyle.
We’re here to help. At DRD Insurance Agency, our coverage experts are well-equipped to help residents of La Habra and the state of California understand earthquake insurance and assess their specific needs. We will work with you to discuss your options and craft ideal policies. Contact us today to get started.