When Is It Right To Buy Earthquake Insurance

As a broker working in earthquake country the question “when is it right to buy earthquake insurance” is one that my clients always ask me. There is no correct answer, but there are a few considerations to make when deciding if earthquake insurance is for you.

Do You Have Equity?

If you have a high percentage of equity earthquake insurance should be a no brainier. You insure your home against fire & liability, why not earthquakes? Earthquake have the ability to completely destroy your home, which can leave you in a terrible position if you are counting on the equity .

Can You Afford Another Mortgage?

If you do not have earthquake insurance do you have enough in savings to rebuild your home? If the answer is no, you will likely have to take another loan to rebuild your property. Not only will you be responsible for your previous home loan, but you will also be responsible for the construction loan as well. 

Can You Afford The Premiums?

When is it right to buy earthquake insurance? Well, the premiums have to be within your range of affordability. Remember, this isn’t what you want to spend, but what you can actually afford. The carriers at Stone Creek Insurance Agency offer premiums that are as competitive as ever. Work the payment into your budget, it might make more sense than you think! 

Hopefully you have learned how to answer the question of “when is it right to buy earthquake insurance”. We’d love to help quote your property. If you have any interest please click to the right and complete the request. A license agent will be in touch with you right away to provide quotes from our industry leading carriers.