Get Earthquake Protection through Los Angeles Insurance Quotes
Considering that Los Angeles is just as known for earthquakes as it is for movie stars and beaches, it's probably no surprise that the city is home to the highest number of earthquake insurance policyholders in the world. What might surprise you, however, is that group is made up of just one out of every seven of the city's residents. That means six out of seven people in L.A. won't be covered when the next big one hits. And according to the Southern California Earthquake Center, that big one is on its way. Researchers predict a catastrophic quake registering 7.0 or greater will strike Los Angeles sometime before 2024. If you're among the six out of seven who currently run the risk of losing everything they have, maybe it's time to considering looking into earthquake coverage through Los Angeles Insurance Quotes.
A False Sense of Security?
Even if you think your home will be covered if an earthquake strikes, you might want to look into the matter before dismissing it. With very few exceptions, homeowners insurance policies don't cover "acts of God"--which include floods, lightning, storms, tornadoes and earthquakes. The only way you can protect yourself and your family from a financial catastrophe at the hand of an act of God is to purchase a separate, specific policy. Considering that 99 percent of Los Angeles County is considered to be in a zone of high earthquake danger, one might think that every homeowner in Los Angeles would be seeking earthquake insurance quotes.
Comparing Cost and Worth
If you've shopped around in Los Angeles for insurance quotes in the past, you probably know why there isn't such a rush for protection from this L.A.-exclusive act of God. Earthquake insurance isn't cheap, and policies usually carry a fairly high deductible. The reason for this is a typical insurance company gets most of its business from one specific area; and if an earthquake levels one house in that area, odds are it's going to bring down several more. For the insurance company, that means a number of extremely large payoffs all at one time; in fact, past earthquakes have been known to put insurers out of business. The higher premiums allow them to stow away more money so everyone will be covered when disaster strikes; the high deductible prevents policyholders from chipping away at that money with smaller claims born from minor tremors. So even if you have earthquake insurance, minor damage to your home would have to paid for out of your own pocket. However, when the 7.0 hits, you'll likely be glad you did.
The Right Choice
If you're still on the fence about whether earthquake insurance is necessary, just remember: if your house is leveled, you'll lose more than just the actual structure; everything inside would suddenly be taken from you as well. Would you really be able to afford replacing the things it took a lifetime to acquire? The fact of the matter is if you can afford it, earthquake insurance is a good idea. Los Angeles Insurance Quotes can help you find the best deal on a policy that works for you.