Looking for Earthquake Insurance in Spokane?
When many people think of insurance, they think of their business, their house or car, & life insurance. What many people don’t think about though is earthquake insurance.
There is a reason a standard homeowners or commercial property insurance policy specifically excludes, or does not otherwise provide coverage for flooding or earthquakes. It’s because the damage can be extensive and costly.
While earthquakes don’t strike regularly, it only takes one minor tremor to cause significant damage to your home’s foundation, resulting in tens of thousands of dollars in damage if not more.
Surprisingly, earthquakes occur across the Northwest on a regular basis, almost daily. Most are relatively small, but even small tremors can damage foundations, crack masonry type facades, and start fires from ruptured gas and electrical equipment. None of this would be covered unless earthquake coverage is purchased.
At Lilac Insurance Group, we take protecting your home or commercial property very seriously.
When we talk about insurance, the entire purpose of insurance is to transfer risk to an insurance company; let them pay for the damage that most of us couldn’t otherwise afford. Protecting your assets should the worst happen. Being that your home is most likely your most valuable asset, it only makes sense to explore the benefits of earthquake insurance.
Homeowners insurance does not cover earthquakes
In many states, earthquake insurance is sold as a stand-alone policy, or added on by endorsement to an existing policy. Homeowners policies don’t cover earthquakes in any way, so it’s important to understand this catastrophic exclusion that exists in your coverage.
While earthquake coverage can typically be endorsed to a homeowners policy, At Lilac Insurance we prefer to write this coverage as a separate, stand-alone policy. Our go-to carrier for this is GeoVera Insurance. This allows us to offer much cheaper rates for earthquake insurance, and significantly better coverage.
Earthquake Insurance Coverages
Like homeowners insurance, earthquake insurance’s main duty is to protect your home, or a commercial building.
There may also be coverage for personal property as well.
You will also have a deductible, which can range anywhere from $1,000 up to $10,000 or possibly more. Like homeowners insurance, the higher deductible you take, the lower your premium will be.
How to get started on your Earthquake insurance quote
To get started on your quote, call our office or click over to our quotes page. Either way we’ll make the process simple!