Earthquake Insurance: 7 Things You Need to Know
2. How Much Earthquake Insurance Coverage to Buy?
If the recent quakes have compelled you to go for earthquake insurance, then according to Insure.Com, get sufficient insurance in order to cover costs of rebuilding your home and also replacing spoiled belongings. Do not base your insurance coverage on the actual or market value of the property. Include only the amount needed to renovate and rebuild your home. Though this is only an estimate but try and figure out a rough number.
Plus, you should read and understand all terms and conditions of claiming insurance before applying for it. Reading the terms and conditions of earthquake insurance is important because they need to be claimed within a certain period of time. As sometimes the effects of an earthquake are not very apparent, it might take you a while to get a proper estimate of damage.
