Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage. … Rates (usually $30 per month) depend on location and the probability of an earthquake loss.
If you add a earthquake coverage to the existing policy and in event of loss for Georgia resident , you will have 2% deductible for home (e.g. if your home is $100,000 insurance will pay $98,000) , 10% deductible on swimming pool garage door and 15% deductible on personal property (e.g. moving and your stuff is in uhaul )
In general, damage caused by floods or earth movement (like earthquakes, landslides, mudslides, and sinkholes) isn’t typically covered by your homeowners insurance. There can also be exclusions when it comes to water damage and mold, fungus, vermin, as well as deterioration and wear-and-tear.
If you live in an area where flooding is a relatively common occurrence, it’s always a good idea to get a flood insurance quote — and the same goes for earthquakes and earthquake insurance. These relatively unpredictable hazards require coverage and limits that a typical homeowners insurance policy simply won’t offer, but that doesn’t mean it’s not super important to secure protection if you live in a high-risk locale.
Hazard insurance on a standard homeowners insurance policy covers many natural disasters, like tornadoes or hurricanes. Other natural disasters, including earthquakes and floods, aren’t covered by most homeowners insurance companies. That’s why you should always refer to your policy documents for information about coverage under your particular policy.
Below are some common examples of covered events.
Whether lightning strikes a tree and causes it to fall over, damaging your roof, or a lightning bolt ignites your living room — the dwelling coverage on your homeowners policy might help pay to repair your place. And if your valued belongings are ever damaged by a covered peril like lightning, fire, or explosion, personal property insurance on your policy could help pay to replace them. How’s that for peace of mind?
Wildfires, accidental blazes, and even fires caused by vandals may be covered by home insurance. On top of dwelling coverage and personal property coverage that helps to repair and replace your home and belongings, your policies provide coverage for fire department charges, too.
Hurricanes and tornadoes
If a hurricane or tornado damages or even levels your house, home coverage can often kick in to help restore your place back to its old glory. In the meantime, you might need somewhere else to stay for a bit — which is why your provides coverage for additional living expenses like a hotel, food, and even transportation while your house is being repaired after a covered incident.
Rare as they may be (fortunately), even volcanic eruptions could be covered by your homeowners insurance policy in certain circumstances. Should a fire or other covered hazard, for instance, result from an eruption and damage your home, your policy would likely step in to repair your house and replace your belongings. But if the damage to your home is strictly related to the earth movement itself, you’ll likely be responsible for getting repairs done.