Is it worth it to buy earthquake insurance?

0 votes
asked Sep 14, 2019 in Insurance by dsfodg78e (200 points)
Is it worth it to buy earthquake insurance?

1 Answer

0 votes
answered Sep 14, 2019 by hank57 (430 points)
If the state or area you're living in is prone to earthquakes often then buying earthquake insurance coverage is worth it because an earthquake can cause severe damage to your home which can be costly to fix out of your own pocket.

In that case I would buy earthquake insurance well before you think an earthquake is gonna come because you have to have the earthquake insurance coverage on your homeowners insurance policy before the earthquake happens.

In some areas you may be required to have earthquake insurance on your home if you have a mortgage through a bank for your home.

But if your area does not have many earthquakes then buying earthquake insurance may not be worth the extra cost.

My area gets a few small earthquakes that shake my house a little but but the earthquakes that happen rarely are small and do not do any real damage to the home.

So for me buying earthquake insurance coverage would not be worth it as any of the small damage that may happen can be easily repaired by myself out of pocket for not much cost.

98,443 questions

94,802 answers

1,270 comments

6,992,741 users

...