Los Angeles Home Insurance - Do You Need Earthquake Coverage?
It is worth noting that most Los Angeles home insurance plans do not cover earthquake
damages even if the city has a high probability of being hit by earthquakes due to movements in the San Andreas Fault, located in the Southern part of California. This should be a cause for concern particularly because many believe that the state will experience 6.7 magnitude earthquakes in the next three decades. Since you are not really sure whether the quake will hit the northern or southern parts of California, it is important that you prepare for any eventuality. However, before you get the first earthquake policy that you see on the Internet, you might want to know the things that you should look for in such a plan.One of the first things that you need to do before you get earthquake coverage is to check your existing Los Angeles home insurance policy. You have to make sure that you really do not have any earthquake coverage before you get an additional plan. There are a few companies that provide coverage other than fire and flood. Since California is an earthquake prone state, some insurance companies already include earthquake provisions in standard home insurance policies. There are also other providers that give discounted earthquake policies to their current home insurance policyholders.
For your safety as well as for lower earthquake coverage premiums, it is important for residents that live in a seismic region to regularly inspect and make appropriate repairs to their homes. In Los Angeles, earthquakes are not the only problems that homeowners need to think about. You may need to hire a specialist to check the foundations of your home and roofing. Overall, a well maintained home also has lower Los Angeles home insurance premiums compared to houses that are dilapidated.
In a time of financial uncertainties, cost is an important consideration in everyone's mind. This is true even when shopping for Los Angeles home insurance packages or stand alone earthquake plans. It is often a good idea to get quotes from different insurance companies before you decide. However, you should also remember that price is not everything. It is not always good to get coverage just because of the low premiums. You have to find value for your money. If you can find a homeowner insurance policy that already includes earthquake and flood protection, then that might be a better deal than getting two separate policies. In Los Angeles, you can expect to get additional premium of about $2,500 per year for additional earthquake coverage.
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