Ask An Underwriter: Earthquake Edition

Earthquakes are an unpredictable natural disaster that affect the lives of many each year. Don’t wait for disaster to strike. Now is the time to learn about earthquake insurance so you’ll be prepared and have a plan in place ahead of time.

Our Personal Property underwriters are often asked about earthquakes and the impact they have on insurance. Below they’ll answer their top five most frequently asked questions about earthquakes and insurance!

1. Where do earthquakes occur in the U.S.?

Most people expect earthquakes to plague the western region of the United States. In fact there are 42 states at risk for earthquakes. According to the United States Geological Survey, it’s possible for strong magnitude earthquakes to strike in Southeast.

2. How often do earthquakes happen in the Southeast?

This area of the U.S. averages a whopping 60 earthquakes per year.

3. Does my homeowner’s policy cover earthquake damage? 

Earthquake coverage is not typically included in a standard homeowners or renters policy. If you live in an area that is prone to seismic activity, it is wise to look into adding earthquake insurance to your existing homeowners or renters policy. Since earthquake damages are not typically covered, it is necessary that homeowners are proactive about adding on this type of coverage.

4. What is covered by earthquake insurance?

Good question. Most policies provide coverage for damages to the house, personal belongings inside the home, as well as additional living expenses or loss of use. Make sure to ask your agent for specifics about what is and is not covered in your policy.

5. What are the policy limits on an earthquake policy?

At SIU, we can write up to 10 million dollars per risk.

