Central California Earthquake Insurance
Crash, Boom, Bang
That is all it takes. In a matter of seconds the earth shakes and things are no longer the same. Buildings fall, lives are lost and people are having to clean up a mess they had no idea was coming their way. How do I know you might ask. Well I was in the earthquake in Paso Robles in 2003. We had minor damage at our house but the trauma was still real. The office suffered some fallen panels and broken glass but we considered ourselves lucky.
The phone calls after that were amazing telling us what had happened to houses in the Paso Robles area. One house had the fireplace fall through the center of the house and in one fell swoop, the house was totaled. Broken beams and cracked foundation, No chance to repair. It was rebuild time. They were believers in earthquake insurance prior to the quake, but they really are believers afterwards. The premium they paid for the earthquake coverage allowed them to rebuild their home.
One of the things we look at when discussing earthquake insurance is that the coverage is for catastrophic loss. The first 10 or 15 percent is a deductible. Small claims are not going to be covered. In our case some broken glass, It was on us. But if you had a major loss, it is easier to borrow 15% to over the deductible than it is to borrow enough to rebuild. There might even be an existing mortgage that has to be satisfied as well.
Earthquake insurance is in fact protection against the unthinkable. It protects your ( in most cases ) biggest asset against mother nature throwing you a curve ball. We can not predict when an earthquake will hit. In fact this area had not had a major quake since the late 1920's. We still proposed earthquake coverage to our clients because you never know. Quake insurance is not very expensive when you consider the protection provided.
Quake insurance is provided by several companies that write earthquake policies and by the California Earthquake Authority. Also Each homeowners insurance policy written is required to make the offer of earthquake insurance at least once every two years. There are opportunities to provide you with protection and it is up to us to find you the best policy.
Here are three facts to consider:
- There are thousands of earthquakes each year
- They can be caused by nature or even can be caused by man.
- There is 70% chance of a 6.7 magnitude or higher occurring in the San Francisco Bay area in the next 30 years with an even chance for the same statistic in the Los Angeles area.
The final, convincing fact is that if you cannot afford to rebuild your home, you need earthquake insurance.
Once again one of the examples we always use. Although Earthquake policies has a large deductible, would you rather borrow enough to cover the deductible or enough to rebuild the house. For the price the answer is pretty easy.
So, rebuild with insurance money, not your own. Contact the insurance veterans at Ted Hamm Insurance for a free quote on earthquake insurance today.
Ted Hamm Insurance
The insurance experts at Ted Hamm Insurance in the Paso Robles area, will explain your protection options and give you all of the earthquake facts pertaining to our area.
Protect your family and your assets. Complete the Protection Savings Form today for a free, no obligation earthquake insurance quote. It’s the best way to protect yourself against the whims of nature.