clock January 13, 2015 comments No Comments flowchart Business InsuranceClaimsCommercial Property InsuranceHomeowners InsuranceOur Blog tag

Apparently, earthquakes don’t only happen in California! If you live in eastern Connecticut, chances are that you felt the earth shake over the last two days. That’s because scientists recorded 4 small earthquakes in the area since early Monday morning. If you live in Rhode Island or Massachusetts, you’re not too far away, and small earthquakes have been recorded in these states in recent years as well.

As you might imagine, earthquakes can cause lots of damage, depending on the severity of the quake.  Is earthquake damage covered by insurance?  The answer is maybe, but only if earthquake coverage is on the policy.  A standard home or business insurance policy does not include earthquake coverage, but the protection can usually be added via an endorsement, or rider to the policy.  Earthquake insurance has a separate deductible, which is different from and higher than the regular policy deductible.  Earthquake deductibles are written as a percentage of the building amount.  For example, if you insure a house for $500,000, a common earthquake deductible may be 5%, or $25,000.

While many people in New England may laugh and shrug off the possibility of an earthquake, the shaking over the last two days in Connecticut is proof that they can happen here.  If you would like more information about earthquake insurance, give us a call at 401-723-8510.

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