If you are insured by one of our agents at Insurance Centers, it’s likely you reside in either Colorado or California. Living in California, you are already well-informed of the procedures in the event of an earthquake, given the fact that you are at risk for a damage-causing quake 1-3 times annually. In Colorado, however, it’s likely you’ve never even considered the chance of an earthquake to your home.
Some scientists believe that global warming links to an increase in earthquakes around the world. Though Colorado is cold and snowy, lately it has been warm—too warm. The peaks that are typically covered in snow have been bare all too often. In fact, temperatures in Colorado increased by two degrees in the nearly 30-year gap between 1977 and 2006. It is predicted temperatures will rise another six degrees in the next thirty years after that. Potentially, the risk for earthquakes is increasing as the temperatures do.
Put yourself on the safe side—check into earthquake coverage rates. Deductibles range anywhere from 5-20% of dwelling coverage. In California, it’s a necessity to obtain this kind of coverage, while in Colorado, it may not be as necessary. Because the risk is lower, the costs to insure are also lower.
These coverages include damages to cracks in foundations, walls, and ceilings. Also, a lot of your personal belongings are covered—including furniture and electronics. Depending on your coverage, you could be reimbursed for a temporary hotel stay in the event of an earthquake resulting in your home becoming inhabitable.
If an earthquake were to happen unexpectedly, you’d be covered, as opposed to losing everything and having to borrow money to replace it.