Tag Archives: earthquake

Best time to buy earthquake insurance

Is Now the Best Time to Buy Earthquake Insurance

With the recent talk in the media about forecasted quakes, you might be wondering, “should I buy earthquake insurance?”

You’ve likely seen the commercials from the California Earthquake Authority with topics like, “it’s not a matter of if, but when,” and informative videos about the hundreds of fault lines that spider beneath California.

California is no stranger to big quakes: Napa experienced a 6.0 in 2014, San Francisco shook in 2004, and Northridge had a 6.7 in 1994. These areas were hit with millions – and billions – of dollars in property damage.

Recently California residents have been seeing news reports on earthquake forecasting.

In early October there was a “swam” of activity close to a big fault – and that got seismologists quaking.

On a fox news report, Seismologist Richard Allen of UC Berkley, related that on any given day on the San Andres fault the chance of a major earthquake is about 1 in 6000, but in October the number rose to 1 in 100.

While no one can predict the future, it’s safe to say that California has a history of earthquakes and will likely experience more quakes in the future.

 Great news for Earthquake Insurance

Earthquake rates have gone down recently – even as recently as two months ago. Some of the newer carriers have competitive rates and there are more options now in the market.

There is also great news for homeowners with a pool: Previously there was no or limited coverage for pools, and now you can get coverage on your pool. (California Earthquake Authority does not offer coverage for pools).

Understanding your Earthquake Insurance Options

Your premium may depend on a number of factors:

  • The value of your home
  • The location of your home. (Rates are still rated by zip code with some areas, like Northridge having higher rates than areas in Orange County.)
  • The carrier you choose
  • The deductible plan you opt for

Understanding your deductible options:

The most common deductible option chosen is 15%, and the second most is 10%. That is because those used to be the only two options available! However, homeowners can now choose from deductibles anywhere from 2.5% to 25% so there is plan that can fit anybody’s needs and budget

Earthquake Insurance for Commercial Buildings

Many business owners that once considered earthquake insurance for their commercial properties found it to be cost prohibitive or unavailable. There are now several more companies offering commercial earthquake insurance in CA and this increased competition has lowered rates drastically and opened up availability. Coverage is also now available for older buildings, concrete and brick buildings, and buildings with underground parking

 

Homeowner’s insurance policies are not covered for earthquakes. If a damaging quake hits your area you could be left paying for the costs to rebuild out of pocket. FEMA – The Federal Emergency Management Agency – doesn’t have the money to repay such large-scale losses.

Cappuccino Insurance Agency currently writes with most of the major companies that provide earthquake insurance in CA. We can help you decide which company makes most sense for you.

Contact us for a free consultation on your earthquake insurance options.

earthquake measures and magnifier

Protect Your Home When The Earth Starts Quaking

Earthquake Insurance Basics

California is one of the most sought after places to make a home. However, those who already live in California know that the beautiful coastline and warm weather also come with the danger of experiencing an earthquake. Investing in a specific earthquake insurance policy is the best way to ensure that you and your family stay safe in case of an earthquake.

While your homeowner’s insurance policy will provide coverage for many perils, it will not provide any coverage for damage that is done during an earthquake, only an earthquake insurance policy will. Typical earthquake insurance policies will provide coverage for any type of earth movement, which can include sinkholes, mudslides, and mudflows. It is important to keep in mind that an earthquake insurance policy will not provide any coverage for a fire that is started due to an earthquake. However, your home insurance will kick in and cover any damages caused by the fire.

Earthquake insurance can be bought as a stand-alone policy, or can be added onto your home insurance as an endorsement. No matter which way you choose to protect your home, there are two parts to the policy. The first part will provide coverage for the structure of your home and the second part will provide coverage for your personal property. When looking for the right amount of coverage, make sure to take into consideration the value of your belongings. Using your home inventory can be a great way to ensure that you invest in the right amount of protection in case of an earthquake.

Contact the insurance professionals at Cappuccino Insurance Agency in Westlake Village, California for all of your Conejo Valley earthquake insurance needs. We will work with you to ensure that you have the protection that you deserve when the ground starts to quake.

Seismograph instrument recording ground motion during earthquake

Be Prepared for an Earthquake with These Tips

Living in California comes with the danger of experiencing an earthquake. There is no way to tell when an earthquake is going to happen, or just how much damage it will cause. Make sure to keep these earthquake safety tips in mind to ensure that you and your loved ones are prepared for an earthquake.

  • Practice drills. The best way to ensure that everyone in your family knows what to do in case of an earthquake is to practice. It will also help everyone stay calm when there is an earthquake since they will know what to do.
  • Take cover. Make sure to identify a safe place to be during an earthquake in each of the rooms in your home. These could be under a sturdy table on next to an inside wall of the house.
  • Have an emergency kit. Make an emergency kit that you will be able to get to in case of an earthquake. This should include things such as medical supplies, water, and nonperishable food. Also make sure that it contains a list of things to grab in case of an emergency, such as medication, family heirlooms, and contact information for friends and family.
  • Think about your pets. Make sure that your pet also has a special emergency kit that includes medication, the phone number of vets, and a carriers.

The best way to make sure that you home is protected in case of an earthquake is to invest in an earthquake insurance policy. A typical homeowners insurance policy will not provide the right amount of protection needed, so you will be left paying for the damage out of your own pocket.

To ensure that your home and family are protected in case of an earthquake in the Conejo Valley, contact Cappuccino Insurance Agency in Westlake Village, California. We can provide the most comprehensive insurance coverage to ensure that you are protected from any damage.

Seismograph instrument recording ground motion during earthquake

Understanding Earthquake Insurance and Its Importance

You never know when mother nature is going to shake her fist and throw a natural disaster your way.  From wind to floods to earthquakes to wildfires, she has many faces.  One way that you can protect yourself, however, is by purchasing the right type of insurance.  For example, if you live in an area that is prone to flooding, flood insurance would be valuable.  For those of you who live in areas prone to earthquakes, earthquake insurance can prove to be much more valuable than you’ve ever imagined.

When an earthquake takes place, the ground shakes.  These shakes and tremors can be felt for hundreds of miles, and many times, they will cause much damage.  Even a small earthquake can crack one or more walls in your home, and repairs could cost thousands of dollars.  With earthquake insurance coverage, though, any damage endured during an earthquake would be covered.  You wouldn’t have to worry about coming up with funds to make any repairs because your insurance would pay for them.

If you have found yourself shopping for an earthquake insurance policy, one thing you need to take into consideration is your deductible.  The higher your deductible, the lower your monthly premium.  While a lower premium might seem enticing, you need to remember that if an earthquake does occur and you have to make a claim, your deductible will have to be paid first before your benefits will kick in.  Many times, even when lowering your deductible a bit, your monthly rate won’t increase all that much.  Doesn’t it make more sense to pay a monthly premium amount of $28 with a $500 deductible than $19 for a $1500 deductible?  Of course it does.

If you have questions relating to earthquake insurance in Conejo Valley, California, please don’t hesitate to contact Cappuccino Insurance Agency today.