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    Shaken, Not Stirred. Importance of Earthquake Insurance

    Earthquake Insurance – Do Orange County Homeowners Really Need It?

    Earthquake insurance is one of the most important insurance policies you can have in Orange County. This form of insurance protection will protect you in the event your home is damaged or destroyed in the event of an earthquake.

    Earthquake Insurance Cost 

    An earthquake insurance premium typically costs between $500 – $1,000 per year, although some California residents can pay up to $3,000 per year for an earthquake insurance premium, depending on what part of the state they live in.

    Before debating whether or not you’re going to get an earthquake insurance policy or not, ask yourself this question: how much would it cost to repair your home and replace your possessions should an earthquake occur? It’s not uncommon for earthquake damages to total over $30,000 and some homeowners who have endured major earthquakes like the Northridge Earthquake, and didn’t have an earthquake insurance policy, lost everything and were unable to recover financially.

    California Earthquake Authority

    Homeowners in Southern California can also use the California Earthquake Authority’s website at http://www.earthquakeauthority.com to estimate how much they can expect to pay for an earthquake insurance policy and then obtain earthquake insurance coverage for their home, condo, apartment complex or structure that they own.

    Earthquake Insurance – Do Orange County Homeowners Really Need It?

    The California Earthquake Authority has the ability to pay up to $10 billion dollars in earthquake claims alone so all Orange County residents can rest assured that any structure that they own within Orange County will be protected should an earthquake occur. Even if an earthquake happens that’s stronger than the Northridge Earthquake in 1994 or the Loma Prieta earthquake in 1989, it will still have the ability to repay all claims since it has also taken out insurance policies through other companies to ensure solvency.

    To learn more about the importance of having an earthquake insurance policy or to view the latest Orange County homes for sale, contact the experienced team of top Orange County Realtors at Fred Sed & Associates today by calling: (949) 272-0125.

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