Oklahoma and Earthquakes

Let's talk about earthquake insurance.

We have all been hearing a lot about earthquakes in Oklahoma. This year alone we have had about 200 earthquakes of magnitude 3.0 or stronger, which is cause for us to consider - does my current insurance cover damage from an earthquake? The answer is most likely NO. The majority of homeowner's policies have no coverage in the event of an earthquake.

Since earthquakes can cause a great deal of damage, how would you manage the costs of recovering? Could you afford to repair and rebuild your home without insurance? Would you be able to cover the cost of temporary housing during such repairs?

An earthquake policy will cover home repairs and may also cover other structures like your garage and damage to personal property caused directly by an earthquake. It will also pay extra living expenses while your home is being repaired.

Though damage to your land may not be covered with an earthquake policy, it will most likely pay "engineering costs" to stabilize the land supporting you home if need after an earthquake.

If you have questions about what is covered in your existing policy, give us a call and we can very clearly explain what will and won't be covered.