Seismologists (www.earthquake.usgs.gov) still cannot predict exactly when a major trembler will hit a given area. Are you prepared for your own safety and the financial loss that may occur to your property? Standard property insurance policies do not offer coverage for damage due to earthquakes. Coverage for earth movement, includes, landslides, mud flows, sinking, rising/shifting of the ground require a separate policy.
Most commercial insurance policies do not cover damage caused by an earthquake, but coverage can be purchased as an endorsement or a separate policy. You may be able to choose to purchase earthquake insurance from the same company that provides your commercial insurance, from a specialized earthquake insurance provider, or from an independent organization such as the California Earthquake Authority (CEA).
Earthquake insurance provides coverage if your business property is damaged by an earthquake. Standard commercial business policies will not cover earthquake damage. Earthquake insurance is a separate endorsement you must buy and add to your commercial policy. An earthquake endorsement generally excludes damages or losses from floods and tidal waves - even when caused or compounded by an earthquake. However, if you experience a loss due to a landslide, settlement, mudflow, or the rising, sinking and contracting of earth, your endorsement may cover it if the damage resulted from an earthquake.
There are several options to consider when purchasing earthquake insurance, including:
Earthquake insurance needs can vary significantly - talk to us today to find out how to get the best price and value on earthquake insurance for you!