By Hannah Munson
We all know that earthquakes results into serious property damages to survivors. Hence, this is already considered by any insurance companies and is giving out an insurance policy to any damages caused by earthquakes. In other words, people can apply for earthquake insurance alone. Meaning, this is a separate insurance for a damage caused by earthquake and not of any other disaster otherwise, it will not be granted.
However, we do not know yet what are the specific costs that a person can get from earthquake insurance. Insurance companies need to check or examine first what type of house or building needs to be recovered by their company. An earthquake insurance covers all the repairs and restructuring of your home or building. They will provide you with all the necessary tools and materials needed to reconstruct your house and provide you with the necessary expenses you need while you are still coping or recovering your home. However, earthquake insurance has much higher deductibles compared to typical or common house insurance. To make a clearer breakdown for earthquake insurance, here is the list for you to know.
Each and every state is going to be different when it comes down to insurance. If you want to get a quote, it would be advisable that you call up a few companies to see what they can do for you. W hat you're going to find out is that there are a lot of options that you can take when you want to compare insurance quotes.
However, we do not know yet what are the specific costs that a person can get from earthquake insurance. Insurance companies need to check or examine first what type of house or building needs to be recovered by their company. An earthquake insurance covers all the repairs and restructuring of your home or building. They will provide you with all the necessary tools and materials needed to reconstruct your house and provide you with the necessary expenses you need while you are still coping or recovering your home. However, earthquake insurance has much higher deductibles compared to typical or common house insurance. To make a clearer breakdown for earthquake insurance, here is the list for you to know.
- Replacement value of the total damage of the building or house is set into premiums that are in multiple bases with an amount of $1000.
- Costs per material vary on some other states. Others will calculate wood frame and brick with the costs of $3 and $ 5 respectively per $1000 replacement value. Some has $50 and $90 per $1000 replacement value while others will compute it depending on the building construction and considers how old it is.
- There are states that have an Earthquake Authority that can give specific costs for each damage and can give a clearer breakdown to a certain damage claim.
Each and every state is going to be different when it comes down to insurance. If you want to get a quote, it would be advisable that you call up a few companies to see what they can do for you. W hat you're going to find out is that there are a lot of options that you can take when you want to compare insurance quotes.
| See what the earthquake insurance cost is in your area, as well as what others are paying all at HowMuchIsIt. Article Source: http://EzineArticles.com/?expert=Hannah_Munson |
