Jun
26
The recent earthquake in Ontario, Canada was felt throughout many states in the US, including Vermont, New York, Illinois, Indiana, and Ohio. It was a reminder of the vulnerability of the US to this type of the disaster according to the article found on insurancenewsnet.com from a news release by The Insurance Institute.
Earthquakes are not covered under standard US homeowners insurance policies nor auto insurance policies. Cars and other vehicles may be covered under an optional comprehensive portion of an auto insurance policy. Ohio auto insurance and companies such as Eastwood Insurance may have various options for you to look into.
Earthquake insurance policies usually carry a deductible in the form of a percent rather than a dollar amount. The deductible range can vary anywhere from 2% to 20% of the building’s replacement value. Earthquake insurance rates differ greatly from state to state and company to company. Several factors are considered such as location, construction materials, and how close a structure is to a fault line. If you think you may be at risk look into what options are available with your insurance provider.
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