Paraphrased from Western States
Insurance Information Service. Ask these following questions of
your agent before buying.
1. Why should I buy earthquake
insurance. Is there another way for me to replace my insurance
if I don't have earthquake insurance
2. Is the earthquake insurance
coverage additional to my existing homeowners policy of do I
have to buy a separate policy
3. What does earthquake insurance
cover
4. How much earthquake insurance
coverage should I buy?
5. How much does it cost?
6. Will the coverage I buy apply
to the combined value of my house (the structure itself) and the
contents of my home (furniture, clothing, electronic equipment,
collections, etc.) or should I evaluate my potential losses
separately
7. Does the policy have a
guaranteed replacement cost coverage? If so , how would this
coverage apply if I suffer a loss?
8. I own a condominium. How would
earthquake insurance benefit me? (Ask specifically if the
insurance would be covered if you are forced to vacate the
premises for safety reasons)
9. I'm a renter. How would
earthquake insurance benefit me? (Ask specifically if additional
living expenses would be covered if you are forced to vacate the
premises for safety reasons).
10. What bout my car- would that
be covered by earthquake insurance?
11. What about other structures-
the garage for instance? Are they covered by the same policy or
will I need to get another or a rider.
12. How much is the deductible?
13. Is the deductible for my
earthquake insurance coverage different from the deductible for
my basic homeowners insurance coverage?
14. How is the deductible on my
earthquake insurance coverage going to be calculated in the
event of a loss? Will a separate deductible apply to the
structure, contents, and detached structures, or does one
deductible apply to the entire loss?
15. If I have to vacate my home,
will earthquake insurance cover the hotel expenses? If so, for
how long?
16. Is breakage of fragile
articles covered if I purchase earthquake insurance? Is there a
better way to cover these items (i.e. specifically scheduling)?
If so, explain how this works to my benefit
17. Does the type of home I live
in (brick, veneer, masonry affect the way earthquake coverage
will respond? Does it cost more if I own a masonry/brick home
that an A frame home?
18. Does the earthquake policy
exclude certain repairs?
19. How long do I have to wait
after an earthquake before I file a claim?
20. What about aftershocks
attributable to the original quake- would I be covered for
resulting damages without another deductible?
21. Are there additional
"endorsements" to the earthquake coverage that I
should also consider- building code upgrades, structural report
coverage, demolition, etc? If so, explains how purchasing
endorsements might benefit me.
© Copyright 2008 The Miller Law Firm. All rights Reserved.
If you experience problems or have questions, contact us at Info@ConstructionDefects.com.
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