If you live in an earthquake zone, where you’ve felt the tremors of small quakes, or been through a big earthquake, you know that few things can be more frightening. Earthquakes have caused damage in all 50 states and approximately 90 percent of all Americans live in seismically-active areas. While the government may provide disaster relief to individuals following an earthquake, it will typically come in the form of a low-interest loan to help repair or replace possessions, and is not designed to protect homeowners from loss due to earthquakes.
It’s important to know that standard homeowners or renters insurance policies do not cover losses due to “shifting earth” situations – including earthquakes, landslides, mudslides, mudflows, sinkholes or any movement that involves ground shifting, rising or sinking. But for those living in earthquake-prone areas, or people concerned about the possibility of an earthquake, earthquake insurance is available in almost every state.
Homeowners, renters and condominium owners living across the U.S. can obtain earthquake insurance from private insurance companies. Earthquake insurance can provide some financial protection in the event that your personal property is damaged or destroyed due to earthquake.