Many people assume that their standard homeowner policy will cover direct damages caused by an earthquake, but almost all policies exclude earthquake coverage, just like flood. You can however purchase earthquake coverage to protect your most valuable assets, your home, and your personal property.
Do you need earthquake coverage in New England? Southern New England has experienced over 30 earthquakes measuring from 1.5 to 3.6 magnitude in just the last 10 years alone. Although not as strong a measurement as experienced on the West Coast, seismic waves generally travel farther on the East Coast meaning a lower magnitude with a stronger impact.
Do you need a separate policy for earthquake coverage? Earthquake coverage can be added to most homeowner policies by endorsement, so a separate policy is not necessary.
Is earthquake insurance coverage expensive? Depending on the damage an earthquake may cause to your home it is actually quite affordable. Premiums depend on the age, location, and type of construction materials your home is built with, excluding the deductible. Earthquake deductibles are percentages of the dwelling amount and the most common is 5%.
Call us today at Thompson Insurance Group at 401-434-7203 to find out how to add this important coverage to your policy.
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