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Earthquake insurance

Is Earthquake Insurance Worth Getting?

While you can’t plan for earthquakes, you can be prepared — and that can make all the difference. American Family’s earthquake coverage can help cover your finances if something happens to your home, condo or rental unit. Because damage from earthquakes isn’t typically covered under standard homeowners, condo or renters policies, it’s key to get coverage even if you’re not living in California or Hawaii.

Some earthquake-free regions of the US have recently seen an uptick in earthquake activity lately. According to the National Earthquake Information Center, the US experiences anywhere from 12,000 to 14,000 earthquakes annually — the majority of which are minor events. Earthquake insurance coverage is an increasingly important addition to your renters or homeowners policy no matter where you live.

From Washington State, to Oregon, Missouri and Illinois, small events can translate into big issues. When earthquakes strike, serious foundation issues, structural damage and broken windows can occur. Without this coverage you may have to pay out of pocket for expensive repairs or to replace your belongings and valuables yourself.

What Is the Average Cost of Earthquake Insurance?

Like most insurance products, your earthquake insurance price is based on where you live — among other factors. Nationally, earthquake coverage costs around $800 per year, but those numbers can climb in high-risk areas. In regions like San Francisco — where active fault lines run directly below the metropolitan areas — premiums range anywhere from $2,000-$5,000 annually.

Here’s a look at what factors into the price of earthquake insurance:

  • Your location and current earthquake risk
  • The age of your home, condo or rental
  • The square footage of your space
  • Your space’s overall value
  • The construction materials used to build your home
  • Your home’s proximity to known fault lines
  • The deducible you select for your earthquake coverage

What Is Covered Under Earthquake Insurance?

Depending on the value of your home — or the personal property you keep on location if you’re renting — earthquake insurance helps to cover the cost of repair or replacement after a covered event causes damage. You’ll be responsible for paying a deductible, then the coverage will kick in and pay up to the policy’s limit. If your home is in need of major repairs, this coverage may even provide funds for additional living expenses to help pay for the cost of an alternative living space while your home is restored.

Earthquake Insurance for Homes

By adding earthquake coverage to your existing homeowners policy, you can get an extra layer of protection that kicks in where your basic coverage ends.

It helps protect:

  • Your home
  • Your garage or other structures on your property
  • Your fences, driveway, sidewalk and other permanently-installed yard fixtures
  • Construction materials on your premises for use in your home
  • Your personal property

Earthquake Insurance for Condos

Get extra protection that goes beyond your existing condo policy with earthquake coverage.

It helps protect:

  • Your condo unit (per your condo association rules)
  • Permanently installed fixtures and appliances
  • Your personal property

Earthquake Insurance for Renters

You may not own your home, but your belongings make it uniquely yours. Adding earthquake coverage to your existing renters policy can help with unexpected expenses.

It helps protect:

  • Your personal property
  • Building additions and alterations made at your expense

Protect From the Unexpected With Earthquake Insurance

Wondering whether adding earthquake coverage to your policy is smart for you? Check in with your American Family Insurance agent, who can explain the best earthquake coverage options for you and your life.

These summaries represent only a brief description of select coverages. Coverage features and limits vary by state. Some products are not available in every state.