Tag: Insurance exclusions

earthquake insurance

Insurance Topics: When Earthquake Insurance Is Excluded

Purchasing insurance is all about protecting ourselves, and earthquake insurance is a prime example for residents of states like California. In many cases, it may also be about protecting property like your vehicle, and those of family members living with you. You may need to protect your business, as well as purchase insurance to ward off financial ruin due to a negligence claim. You may even need professional liability insurance to protect you in the case of a lawsuit against you in your career.

Protection of the home is particularly important, and unique, because it not only protects what may be the largest financial investment you’ll ever make, but it protects a valuable shelter for you and your family. As the old saying goes ‘home is where the heart is,’ and to have something happen to that area can be financially devastating, but also emotionally devastating. Because of that, when you set out to buy a homeowners insurance policy, it is critical to work with an agent who is experienced, and can direct you not only to understanding what your needs are but helping you to purchase multiple lines if needed, or added coverage.

In California especially, earthquake insurance is a big topic upon purchasing homeowner’s insurance. Because of the incredible, catastrophic damage that can be done, and the possibility for real financial strife if an insurer were to have to pay out for many policyholders at an astronomical cost, your insurer may only offer earthquake coverage as an addition to the regular policy. Make it a priority to ask your agent about whether your policy will include it, or if you need to make an extra purchase. While this may seem like common sense, only a small percentage of Californians have earthquake insurance for their homes or businesses and many do believe it is included—only to find out later that they are left high and dry after a disaster.

If you do have a claim, and you did purchase extra coverage, the insurance should be expedient about sending out an adjuster to begin an investigation, collecting the facts from you, and getting a settlement back to you expediently—especially if you have lost your home or it has been rendered temporarily uninhabitable.

If you suspect your insurance company may be denying your claim in bad faith, contact the attorneys at the Bolender Law Firm. If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!