subject: Don't Forget About Earthquake Insurance In Los Angeles [print this page] Don't Forget About Earthquake Insurance In Los Angeles
If you live in Los Angeles--or any other area in which earthquakes are common--you need to make sure you have earthquake insurance Los Angeles in addition to your standard homeowners insurance policy. Many homeowners assume that their existing home policy will cover them against earthquakes if they live in an area in which they are a real risk, but in most cases extra cover is needed.
Over the past 100 years, 39 US states have experienced earthquakes; around 90% of Americans live in an area that is classed as seismically active. Despite these statistics, only a small percentage of people actually purchase earthquake insurance. In California, the threat of an earthquake is part of daily life, however only around 12% of Californian residents have earthquake insurance coverage. In 1994 the earthquake in Northridge, California measured 6.4 on the Richter Scale, resulted in the deaths of 57 people and caused around $20 billion worth of damage. The California Earthquake Authority (CEA) was created in 1996, at which stage a far higher percentage of Californians had earthquake insurance cover--thought to be around 30%. Over the past few years homeowners have failed to renew their earthquake insurance cover due to their belief that the policy was too expensive and not as much of a necessity as other home expenses.
While home insurance policies and policies for condos and rental properties do not cover damage caused by an earthquake, it is really straightforward to arrange separate cover, or buy an endorsement of an existing policy. Despite what some consumers may think, earthquake insurance can be fairly cheap; this depends on where you live. An insurance agent can provide advice as to what earthquake insurance Los Angeles policy is the right one for you. Using the services of a qualified professional can take away much of the stress and hard work involved in arranging insurance; many people hate dealing with financial matters of any sort and to them insurance often seems more complicated than it actually is.
Another good way to decide on an earthquake insurance policy is to use the services of a comparison website; all you have to do is enter a few personal details on the site and within a few seconds you will be provided with a list of policies that are deemed to be suitable for your requirements. You may even be able to do a deal with your existing home or auto insurance cover and consolidate all your insurance policies into one "blanket" policy on the basis that you receive a discount on your total monthly insurance payment. Insurers are desperate for business and if you indicate that you are planning to go elsewhere for a better deal on your insurance, you may find that your insurer is willing to negotiate on your premium.
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