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 Given recent events in the Mid-West, more and more homeowners are learning that earthquake damage is not covered under their homeowner's policies.
Imagine paying hundreds of dollars in home insurance premiums each year, never making a claim and then, disaster strikes. If that disaster is an earthquake, you're most likely going to be in for a very unpleasant surprise. Most home insurance policies cover damage from perils such as fire, water (to an extent) and wind — not earthquakes.
Too many homeowner's take the "it can't happen to me" approach, believing that if they're not in California, Oregon or Washington State, they don't need earthquake coverage. However, recent events in the Mid-West, especially Illinois, have proven to be a wake-up call for all homeowner's throughout the nation.
Just because you don't necessarily live in a high-risk earthquake zone doesn't mean you can't get earthquake coverage. Earthquake premiums are heavily based on geographic risk-level and the structure of the home, and in most cases, can be simply added to an existing homeowner's policy.
The decision to purchase earthquake coverage rests solely on the homeowner, but when it comes to comparing the out-of-pocket cost of repairs versus what may only be a few dollars a year, earthquake coverage should be seriously considered.
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