I read an article this morning that says many people don't realize it doesn't come automatically. Really? I find that hard to believe. Regardless, your regular policy does absolutely not cover hazard from earthquake.
Are we due for one in California? It's been a while. You'd think we must be due. We've had some weird weather over the last year....maybe that's a sign? Hah. Who knows.
At any rate, I had EQ insurance for the 94 quake. Didn't help me at all due to the high deductible. FEMA helped us enough that we didn't have to take an SBA loan out as well. BUT, we had very little damage. We were much more fortunate than many others.
Could a natural disaster, such as Earthquake, hurt this recovering housing industry? Hell yes, it sure could.....particularly if there isn't enough money to go around to repair homes.
Not working on a scare tactic, just reminding you to check your policies if you think you are covered for EQ hazard. And, if you think we are due for one, may want to talk with your insurance agent about your options. As well as what options you have if there is a devastating EQ and you don't have insurance coverage.
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