Basic insurance doesn't cover earthquakes
"Your basic homeowner's insurance does not cover damage from earthquakes," said
According to Matheson, depending on where the home is located dictates what a home owner would pay per year for an earthquake policy.
According to research, in a state such as
According to the
"I have not written any earthquake policies here in
Matheson suggested that coverage in
Matheson goes on to remind homeowners that earthquake insurance usually include high deductibles.
"So in most cases, even if you purchase earthquake insurance, you have to have pretty significant damage before it pays," he said.
That was not a statement meant to dissuade anyone from considering earthquake insurance here, he added. Because other considerations and risks have to be included in one's decision to purchase or not to purchase this kind of coverage, he said.
"You have to remember that when homes do get hit by an earthquake, many times the kind of damage that is present is structural and can be really expensive to repair," he said.
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