Here in the Northwest Earthquake Insurance is one of the most important types of Insurance to add to your Homeowner’s Policy…and yet it is also the most forgotten about. Thinking about Earthquake Insurance requires preparing for the worst, and yet as humans we tend to hold the mind set, “Oh that would never happen to me!”However, looking at where we are located here in Washington state we have to be aware that it very well could happen to us. The question we really need to ask ourselves is, “if it happened could I afford to replace my home?” Most of us would have to answer “No.” In light of this it is extremely important to have Earthquake Insurance.
Earthquake Insurance can be added as an endorsement to your existing policies, or it can be purchased as a stand-alone policy. There are certain underwriting guidelines when purchasing one of these policies. These guidelines are:
- What year was home built?
- Type of foundation?
- Type of construction; frame or masonry?
- Approximate distance to water?
- Is the home located on a steep bank?
Many insurance companies in the State of Washington no longer offer Earthquake Insurance. Consumers may not even be aware that their insurance company is no longer offering this coverage. It is important to call your current insurance company and specifically ask them if they carry Earthquake Insurance.
At Eagle Harbor Insurance we have several different markets that provide Earthquake Insurance, and we will work with you to find the type of coverage you need.