Not so long ago most homeowners in Oklahoma wouldn’t have dreamed of purchasing earthquake insurance, but that has changed. Due to increased seismic activity, earthquake insurance is suddenly a hot topic.
Homeowners have been asking a lot of questions about earthquake insurance and how it works. To set the record straight, here’s a few quick points homeowners should know about earthquake insurance.
- Most homeowner’s insurance policy do not cover damages caused by earthquakes. Some might have coverage, but it’s best to check before the next quake hits.
- You can buy earthquake insurance independently of your homeowners insurance, or as an “endorsement” of additional coverage.
- 90% of Americans live in an area that has some tremors.
- Brick homes and wood frame homes with crawl spaces are extremely vulnerable to earthquake damage.
- Earthquake insurance can cover you for the cost of damage to your home, detached structures, and some personal property.
- Policies won’t cover you from fire damage, even if the earthquake starts the fire.
- Earthquake insurance does not protect your vehicles.
In November 2015, a 5.6 magnitude earthquake caused serious damage to a home in Sparks, Oklahoma. The chimney was ripped off the roof, throwing bricks everywhere and punching huge holes in the roof.
Earthquakes in Oklahoma are absolutely capable of damaging homes, so make sure you’re covered. All American Insurance Agency uses a network of 35 different companies to find a suitable earthquake insurance policy for their clients.
Source : Fox 23 News