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Earthquake insurance: do you have it?


  Flooded House

Earthquake and sinkhole coverage, does your homeowners insurance cover it?

The answer is, probably not.

After this Easters slight shaker, many people in the Gilbert AZ area are thinking about their own insurance coverage again.

Arizona does in fact have its history of earthquakes with the first of those recorded at Ft Yuma in the 1800’s. According to the USGS, no earthquake has caused death or injury in AZ. The most notable earthquake occurred in 1887, which center was in Mexico, was felt throughout the region including Benson, Tucson, and New Mexico. This earthquake evidently caused some noteworthy property damage as well.

Similar to flood insurance, many people believe that this type of natural disaster will never touch them as the history of the region is a good indicator of future events. Other folks are under the impression that their homeowners insurance will cover them in the event an earthquake damages their home.

For both parties, take the little earthquake on Easter as a reminder to check with your insurance company to see how much this coverage might cost.

Many insurance companies do offer endorsements you can add on for a minimal premium to protect you from the financial consequences of earthquakes and sinkholes. Insurance helps bring some peace of mind for some of those unknown risks that might be waiting around the corner, and adding a little earthquake insurance might be just what the doctor ordered.

Who knows, the next quake might be more like 1887.


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