Earthquake Insurance - Is it worth it?

To buy or not to buy earthquake insurance?

In light of what has happened on the East Coast as a result of Super Storm Sandy and the recent B.C. quakes, that question for many homeowners is on the front burner again. Whether you live in the city, suburbs or on the coast, it's hard to ignore that gnawing feeling in your gut that not having the insurance could mean big problems in the event of "the Big One."

Earthquake insurance provides coverage if your home is damaged by an earthquake. Your standard homeowner and renters policies will not cover earthquake damage. Earthquake insurance is a separate endorsement you must buy and add to your homeowner or renters policy.

Since many homeowners’ biggest investment is their home, earthquake insurance may help protect that investment. Many homeowners, however, still hold off on purchasing insurance; in Oregon, only 20% of owners with homeowners' policies also have earthquake coverage. Why? Denial.

A few thousand earthquakes occur each year in the United States, according to the Geological Survey’s National Earthquake Information Center. Among natural disasters, earthquakes are the most costly from which to recover. Furthermore, 90% of Americans live in potential earthquake zones. Experts have recorded more than 6,000 earthquakes in Oregon, most too small to feel, since 1841. It's not a matter of if but when we are in for a rather sizeable quake.

An earthquake insurance policy will give you the peace of mind and security you deserve. Contact Modern Insurance Marketing (www.moderninsurance.com) to find out more about what earthquake insurance coverage is available for your property.