Earthquake insurance is a special policy that covers people if certain perils occur. Earthquakes don’t fall under the normal insurance policies, so the homeowner would need to provide himself or herself with this extra protection in case something like that occurs. It’s a smart addition for anyone who lives in an area that’s prone to earthquakes. Earthquake-prone areas are likely to have an occurrence while the homeowner is living in the town. Homeowners may want to get such a policy even if the chances of an earthquake there seem slim. No one ever knows when a natural disaster is going to hit, so it’s better to take proactive steps beforehand and always have that level of protection.
The person would pay a premium each month, and the premium would provide the individual with continued coverage. Once a peril would occur, the insured person would start a claim to have repairs done on the home. The first step would be contacting the insurance company and recounting what happened. The person would then have to pay a deductible which will be equal to a percentage of the insurance coverage. The individual would have to pay that amount before the insurance company would pay anything toward the damages.
The earthquake policy covers various components. The earthquake insurance covers the foundation of the home and the materials. It covers all the appliances within the home as well. Another thing that such a policy covers is the homeowner’s belongings. It can replace anything that the homeowner owned in the insurance policy. That includes clothing, electronics, furniture and the like. The policy will protect anything that was inside of the home when the disaster occurred. It may cover some of the items that were outside of the home, as well. The insured person would need to obtain a comprehensive list of components that the policy covers.
In the event that there is any damage that happens to the homeowner’s car, he or she would require comprehensive auto insurance for adequate coverage.