Should You Buy Earthquake Insurance?

Buying insurance can be frustrating because many people believe that they will never actually need to use it and are wasting their money. This is an especially popular belief when it comes to earthquake insurance for people living outside of areas that are prone to earthquakes such as California. If you have wondered do I need earthquake insurance, think about a few important factors before making the decision.

As with most things in life, it is always better to be safe than sorry. Each year in the United States, about five thousand earthquakes occur that are large enough to be felt. While it is true that most of them occur on the west coast, they have occurred in thirty-nine states since 1900 and have caused at least some damage in all fifty.

When it comes to the cost of earthquake insurance, there are different factors that contribute. For example, the age of the house as well as the building materials can have an effect. Older houses are more expensive to insure because newer homes have been built with stricter safety standards. In addition, a home built with brick instead of wood will be more expensive to insure because it is less flexible and more likely to collapse in the event of an earthquake.

If someone really decides that they do not need earthquake insurance, they should at least take steps to protect their home in the event of an earthquake. One important safety move is to remove any old or leaning trees that are close to the home. It is also a good idea to add metal roof ties and reinforce the walls of the home with plywood sheathing.

If you are wondering do I need earthquake insurance, think about how likely it is that an earthquake will occur in your area. Even if it is unlikely, think about the cost of repairing your home if an earthquake did occur. In many cases, the safest bet is to be prepared for any situation instead of rolling the dice and getting stuck with expensive damage.

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