The standard homeowners’ insurance policy in the state of California does not provide coverage for physical or personal damages caused by an earthquake. Instead, these policies generally only cover the damages caused by a fire, including fires which occur following an earthquake. Residential homeowners’ insurance may also provide coverage for explosions, vandalism, or theft following an earthquake. In some cases, residential insurance will cover damage from broken pipes, as well as landslides and mudslides following a pipe burst—but only if these issues resulted directly from an earthquake.
Coverage Provided by Earthquake Insurance
According to the California Department of Insurance, earthquake insurance must provide coverage for a homeowner’s dwelling, personal property over $5,000, and any additional living expenses of at least $1,500. Coverage may include the costs for a temporary rental home, apartment or hotel, as well the costs for restaurant meals and groceries, telephone or utility installation in a temporary residence, relocation and storage services, furniture rentals, and laundry services.
Many people don’t realize just how much not having earthquake insurance could cost them in the long-run. Here at Damberger’s Insurance Agency in Mountain View, California, our local insurance agents are devoted to helping you find the right policy to meet your needs, whether you are interested in earthquake insurance, auto insurance, motorcycle insurance, or renters’ insurance. Give our local insurance agents a call at (888) 716-6936 for more information on our policies. You can also visit us online for more information on SR-22 policies.
Even if your home has yet to experience a devastating flood, insurance agents strongly advise taking out a flood insurance policy. A single torrential storm can wreak havoc on nearby rivers, lakes, and ponds, causing banks to overflow. Even overly saturated soil can cause home basements to flood and ruin the contents within. Getting flood insurance needn’t be an expensive proposition; the following tips can make sure you receive the coverage you need without stretching your budget:
Determine Your Deductible
If your belongings were lost in a flood, how much money could you comfortably spend before needing your insurance compensation? Many insurance policies offer a lower premium fee if a customer is willing to take on a higher deductible. Though you should never agree to a deductible cost that is above your financial threshold, you can significantly reduce your annual fees with a healthy deductible in place.
Strategize Placement of Your Possessions
Where you place your most expensive belongings can affect the price of your flood insurance. Consider a finished basement; if you use your basement as an entertainment area, you’ll likely have electronics that cost thousands of dollars. In the event of a flood, the items in your basement will be the first to go. The more you might lose in a flood, the more likely you will have a higher premium cost. To reduce your rates, keep your most expensive possessions out of the water’s reach.
Know Your Flood Risk
A key determinant of your flood insurance cost is where you live. If you reside in a high-risk zone, your coverage will be more expensive than if you live in a low-to-moderate flood risk area. If you’re considering moving, you may want to keep flood risk in mind when browsing homes.
Are you looking for reasonable flood insurance? Let Damberger’s Insurance Agency help you determine your coverage needs. Call our Mountain View office at (888) 716-6936 or visit our website to learn more about our insurance policy options.
The unexpected happens everyday, we can help keep you prepared for anything. We offer a range of disaster insurance such as fire, earthquake, and flood insurance to keep you better prepared for the unexpected. For more information or to inquire what policy is right for you, contact us.