Why am I having so much trouble finding “stand alone” earthquake insurance?
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UPDATED: Jul 17, 2014
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Insurance Question from Philadelphia, PA
Asked on 07/17/2014
Why am I having so much trouble finding “stand alone” earthquake insurance? NULL
Answer given on July 19, 2014
Earthquake insurance is usually connected to your homeowner policy. It is an option that you can purchase with the homeowner insurance. Some states don’t consider earthquake insurance an issue, and automatically include it in the policy. This would not be the case in areas where earthquakes are common such as in California.There are some stand alone companies which will offer earthquake insurance. However, they may not be licensed in all states. You should talk to an insurance agent or broker to see if they can help you find the insurance you are seeking. Brokers and independent insurance agents have access to specialty insurance companies that “captive agents” such as State Farm do not. The cost could be high, as well as the deductible, depending upon your exposure to a loss. Review the policy carefully before you purchase it. Also, make sure the insurance company is reputable and capable of paying in the event of a loss.
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