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With the 2011 earthquakes in Virgina and Oklahoma, homeowners scramble to look over their insurance policies to see if their home is covered. But unless you are a Californian, then you wouldn't know that earthquake coverage isn't included. Earthquake insurance is a whole different policy where you will have to pay a premium to be insured.
So, should you get earthquake insurance? If you live in California, then you know that you should have it. But if you don't, then use these simple tips to decide.
Tip #1: Live Near an Active Fault Line
It's a safe bet that if you live near an active fault line, you should get this type of insurance.
Tip #2: The Type of Home Affects Cost of Premium
Having a wood home is a lower premium than owning a brick home. This is because repairing brick and other forms of masonry costs a lot more. So always consider the costs of the premiums and type of house you own.
Tip #3: Type Of Soil Conditions
Some types of soil amplify ground quakes more than others. This means that you will feel the shaking more than in other places based on the type of soil around you. Harder soils and bedrock doesn't amplify ground shaking as much as softer soils and water saturated mud. Consider the ground conditions in your area and earthquake activity as to whether you should get earthquake insurance.