Earthquakes, are they covered?
With recent earthquakes rocking Mexico City we felt it necessary to inform our clients and the public that generally speaking homeowners insurance does not cover earthquakes. There is a specific exclusion found in almost all home insurance policies so that coverage is not provided in the event your home is damaged in an earthquake. In fact, here is some of the general wording found in a typical home insurance policy regarding earthquakes.
“We do not insure for loss caused directly or indirectly by any of the following. Such loss is excluded regardless of any other cause or event contributing concurrently or in any sequence to the loss. These exclusions apply whether or not the loss event results in widespread damages or affects a substantial area.
Earth Movement: Earth movement means: earthquake, including land shock waves or tremors before, during or after a volcanic eruption. Landslide, mudslide, or mudflow. Subsidence or sinkhole. Or any other earth movement including earth sinking, rising or shifting.”
As you can see the exclusion is clear.
However, stand-alone earthquake policies can be purchased to cover such events. For more information on earthquake insurance please contact Insurance Professionals of Arizona at 480-981-6338.