Since the 1900s earthquakes have occurred in 39 states, and roughly 90% of Americans live in areas considered seismically active—yet only a very small percentage of homeowners actually purchase earthquake insurance.
Most residential insurance policies do not cover earthquake damage – a separate policy is required. Earthquake insurance covers some of the losses and damage that earthquakes can cause to your home, belongings, and other buildings on your property. Without earthquake insurance to help you recover from catastrophic damage, you will be responsible for all costs to repair or rebuild your home, to replace your personal property, and to live and eat elsewhere.
Contact The Liberty Company today and we will be happy to explain what is covered under an earthquake policy and answer your questions. Whether you want to focus on protecting the structure of your home, the contents and your possessions, or want a plan that offers additional living expenses, we can help tailor a plan specifically to you!
Standard homeowners insurance does not cover flooding, so it’s important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact us. Although it may not seem like much even a few inches of water can cause serious damage; resulting in thousands of dollars in repair and restoration costs.
Different types of policies are available based on your property’s location and flood history:
- Standard Flood Insurance Policies
If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a standard flood insurance policy. The National Flood Insurance Program (NFIP) was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
- Preferred Risk Flood Insurance Policies in CA
If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you aren’t required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.
Contact the Liberty Company to review your flood coverage options and receive a quote today.