Different areas of the country have potential for different natural disasters. On the East Coast, hurricanes are a concern. In the middle of the country, they get tornadoes. Here on the west coast, we have the occasional earthquake. No matter the situation, there’s catastrophe insurance to protect you and your loved ones. The experts at our Santa Monica insurance center can speak to you about your options here in California! First, though, let’s cover the basics.
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- What is considered a catastrophe? From the Insurance Information Institute: “A natural or man-made disaster that is unusually severe.” When insurance claims are expected to surpass $25 million, or affect more than a certain number of people (specifically policyholders), it is designated as a catastrophe.
- Isn’t this written into my home insurance policy? Sometimes it is, sometimes it isn’t. For example, earthquake insurance is always considered a separate policy, even though living along a fault line increases the likelihood of one exponentially. Read your homeowner’s insurance very carefully to figure out exactly what it covers!
- Is catastrophe insurance mandatory? It depends on the catastrophe, and the state! For example, some states have mandatory deductibles for storms with high winds such as hurricanes and tornadoes. However, in California, the most likely catastrophe—an earthquake—does not warrant mandatory coverage, though it is a great idea. You can purchase competitively-priced earthquake insurance from our Santa Monica Allstate location!
- How else can I prepare for a catastrophe? In addition to making sure that your possessions and home are insured in the face of a natural or man-made disaster, you should come up with an agreed-upon emergency plan with your family. Know the proper procedures for fires, earthquakes, and other potential hazards so that should they occur, staying safe and sound will be like second nature.
If you’re looking for quality coverage that’s considerate of all the eventualities of an earthquake, request an insurance quote from us! We’ll get back to you shortly so we can touch base about getting your earthquake coverage sorted!