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Earthquake Insurance Coverage – Make Sure You Are Prepared
In recent news, the United States Geological Survey (USGS) issued a warning that nearly 75% of the U.S. could face potentially damaging earthquakes and intense ground shaking in the next 100 years. With the increasing threat of earthquakes and other natural disasters, it has become essential for homeowners to seek comprehensive insurance coverage. At XINSURANCE, we understand the importance of protecting your home from all potential risks. In this blog, we will discuss the impact of earthquakes, share earthquake safety tips, and highlight our TRU Homeowners Insurance solutions that provide coverage for earthquakes and other weather perils.
The Impact of Earthquakes
Earthquakes can cause significant damage to homes and properties. According to a study by the USGS, in the last 200 years, 37 U.S. states have experienced earthquakes exceeding magnitude 5, highlighting the long history of seismic activity across the country. These earthquakes can result in structural damage, foundation issues, and even total destruction, leading to costly repairs and financial strain for homeowners.
To better understand the potential consequences of earthquakes, it is important to consider statistics on the damage they have caused. Earthquakes can lead to:
- Collapsed buildings and infrastructure
- Injuries and loss of life
- Disruption of essential services such as water, electricity, and transportation
- Emotional and psychological trauma for affected individuals and communities
The Cost of Earthquake Damage
According to a new report from the U.S. Geological Survey (USGS) and the Federal Emergency Management Agency (FEMA), earthquakes cause $14.7 billion in damages and related losses on an annualized basis in the United States. HomeAdvisor estimates that the average cost for repairing earthquake damage runs between $4,000 to $30,000. They state that prices can be as low as $1,000 for minor damage like repairing a utility line or as high as $30,000 for structural issues.
Some states have it worse than others. These loss estimates are concentrated in high seismic hazard states. California, Washington and Oregon account for $11.6 billion in estimated annualized earthquake losses, or 78% of the U.S. total. However, loss estimates have also increased in most other U.S. states, for example by more than 200% in Arizona, Idaho and Mississippi.
Earthquake Safety Tips and Preparedness
Ensuring the safety of yourself and your family during an earthquake is of utmost importance. By following proper safety measures and being prepared, you can minimize the risks and potential damage. Here are some earthquake safety tips inspired by National Geographic and the Michigan Technological University:
- Create an Emergency Plan: Develop a family emergency plan that includes meeting points and communication strategies.
- Secure Heavy Items: Secure heavy furniture, appliances, and valuables to prevent them from falling or causing further damage.
- Make Emergency Kits: Prepare emergency kits with essential supplies, including food, water, flashlights, batteries, and first aid supplies.
- Identify Safe Areas: Identify safe areas in your home, such as under sturdy tables or against interior walls, away from windows and heavy objects.
- Practice Drop, Cover, and Hold On: During an earthquake, remember to drop to the ground, take cover under a sturdy piece of furniture, and hold on until the shaking stops.
TRU Homeowners Insurance Solutions with All-In-One Coverage
At XINSURANCE, we offer TRU Homeowners Insurance, a comprehensive coverage solution designed for homeowners who want to safeguard their properties from a wide range of risks, including earthquakes, floods, wind, wildfires, and more. Our goal is to provide you with true peace of mind by offering a customized insurance solution tailored to your specific needs, including specialized coverage solutions to protect your home and its contents from the unpredictable nature of earthquakes and other weather perils.
Many insurance companies will drop you after a storm hits or show you the fine print that states you’re not covered. XINSURANCE takes a different approach and fills the gaps by offering an all-in-one solution. Better yet ,we stand by your side when things go wrong. With our TRU Homeowners solution, you can have the support needed to repair and rebuild in the aftermath of an earthquake or storm, mitigating the associated risks and enjoying true peace of mind.
Be Prepared for Earthquakes with Earthquake Insurance Coverage
As the risk of earthquakes continues to loom, it is crucial for homeowners to proactively protect their properties with reliable insurance coverage. With our TRU Homeowners insurance solution, XINSURANCE offers all-in-one coverage that includes protection against earthquakes, floods, wind, wildfires, and more. By partnering with us, you can safeguard your home and enjoy true peace of mind. Be prepared for the unexpected and ensure the safety and financial stability of your most valuable asset – your home.