If you’re a California resident it’s not if, it’s when - when it comes to earthquakes.
The damage caused by a sizeable earthquake can be devastating. There are a lot of factors to consider when thinking about getting earthquake insurance.
The USGS says you should take into account the following:
- Proximity to active earthquake faults
- Seismic history of the region (frequency of earthquakes)
- Time since last earthquake
- Building construction (type of building and foundation)
- Architectural layout
- Materials used
- Quality of workmanship
- Extent to which earthquake resistance was considered by the designer
- Local site conditions (type and condition of soil)
- Slope of the land
- Fill material
- Geologic structure of the earth beneath
- Annual rainfall
- Value of the building and its contents
- Cost of the insurance and restrictions on coverage (i.e. the deductible).
If you are interested in insurance options, you can contact California Earthquake Authority.