What is Earthquake Insurance?
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 loss.
How Much Does Earthquake Insurance Cost?
Most earthquake insurance policies feature a high deductible, which makes this type of insurance useful if the entire home is destroyed, but not useful if the home is merely damaged. Rates depend on location and the probability of an earthquake.
Rates may be cheaper for homes made of wood, which withstand earthquakes better than homes made of brick.
Contact Us to learn more about your options when it comes to earthquake insurance.
What is Windstorm Insurance?
A windstorm inspection, also referred to as a windstorm mitigation inspection, windstorm insurance inspection or wind mitigation inspection, is a kind of home inspection common in the coastal areas of the Southeastern United States. The purpose of a windstorm inspection is to determine the appropriateness of a given structure's construction in the event of strong winds, such as those present in a hurricane.
Windstorm inspections look for construction features that have been shown to reduce losses in hurricanes, such as a hip roof, concrete block construction, the presence of gable end bracing, shutters and opening protections, the presence of roof to wall attachments such as toe nails, clips or hurricane straps, and the presence of a secondary water resistance barrier.
A homeowner with windstorm insurance can often submit the results of a windstorm inspection to their insurer to obtain discounts on their windstorm insurance. In Florida, for example, premium discounts for certain favorable wind mitigation features are mandated by State law and can total 45% of the original policy's premium. In coastal parts of Texas, the State mandates windstorm inspections prior to certifying a new building.
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