Earthquake Insurance

Earthquake Home Insurance

The foundation of our lives need to be insured and protected

When a house is built a million dreams are created. Your first car, your family and your children. Memories are etched within the linings of a house. But, what happens to those memories and those glorious days when your beloved home just crumbles into pieces in front of your very own eyes? You would definitely wish to do something. A miracle perhaps, which could bring back your house maybe in a much better condition too? This is the magic which has evolved by the help of Insurance companies.

Finding an earthquake insurance comapny

When an earthquake hits your city, the first thing that hits across your mind is whether your house has been affected or not. Your home is the only place of shelter which offers you comfort after a hard day’s work. So, doesn’t this place need to be protected from the damages which can be inflicted upon it during the event of an earthquake maybe? Today in places like the UK and the US earthquake home insurance providers are trying their level best to reinstate houses which have been affected by the wrath of nature. Companies like Aviva Insurance Company are coming up with schemes which allow the policyholders to add the earthquake coverage policy to their house policy. When you insure your house you end up paying 15% of the rebuilding cost instead of 100%. That does seem to be a far more economical option than just waiting around for an earthquake to hit you and then realize that you should have insured your home. Nowadays, insurance companies have also come up with insurance provided to your holiday homes which may very well be located in earthquake prone areas.

In California, it is the state law that when one is buying a home they will have to fill up a claim for an earthquake home insurance policy as well, since it is one of the most earthquake prone areas in the world. Although, in most parts of the world insurance companies have not come up with an earthquake coverage scheme and homeowners who wish to file for such a scheme may have to purchase a “named perils policy”. In the case of California the government sponsored programme called the California Earthquake Authority has made it a law to have an earthquake home insurance policy.

Yet, asking for an earthquake home insurance policy also depends on the consumer’s choice since there are cases where the consumers consider their housing areas as a non-earthquake prone zone. Confidence of such level has also been shaken when an earthquake hit the UK on 27th February 2008, which was the biggest hit on UK in 25 years. Obviously people were not expecting this sort of a crisis hence a number of homes were destroyed a lot of them not even insured. Thus, in order to make sure that your sweat, blood and tears along with your money and energy do not go down the drain, insure your house from earthquakes because one may never know when nature’s would hit and where.

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