If you live in a state where earthquakes are common, then earthquake insurance should be considered. Residents in places such as California should especially consider this coverage. Earthquakes can cause thousands of dollars worth of damage, and it helps to have assistance recovering. A traditional homeowner’s or renter’s policy does not include earthquake coverage. You must purchase it separately.
The coverage you buy depends on several factors. If you own a home, then you need coverage that includes your belongings and the home. But a renter would just need coverage for their belongings. You might also want to add coverage that pays for hotel stays should you be put out of your home due to damage.
Some companies offer earthquake riders that you can add to your homeowner’s insurance. Note that you must request the addition of this coverage. If you rent, a separate policy is appropriate.
You might also have the ability to save money on your policy. For example, a wood-framed house may entitle you to a discount. Of course, this depends on the specifics of the policy. And some homes are built with specialized features that make the structure more resistant to earthquake damage.
If you live in an earthquake-prone area, then earthquake insurance is something you should consider.