How much does earthquake insurance cost?

The more equity you have to protect, the more valuable a GeoVera earthquake insurance policy becomes. Think about how much equity you have in your home. Think about how that equity grows year after year. Can you afford to lose that equity and future growth? The longer you own your home, the more valuable an earthquake policy becomes to protect that investment. What is the cost of a policy? The cost of an earthquake policy varies due to many factors. These factors include, but are not limited to, the age, size, and location of your home. You can get an earthquake insurance quote online to quickly estimate what the cost would be for your home.

GeoVera offers financial stability you can count on!
GeoVera Insurance Company is approved as an admitted carrier in the states in which it sells residential earthquake insurance by the Departments of Insurance. GeoVera is also consistently rated "A" (Excellent) by A.M. Best Company. As the policyholder, this means you can feel confident you are purchasing from a financially stable company backed by the state guarantee fund.

It's not a question of "If?", but "When?".
Despite knowing for a fact that a major earthquake will occur in the future, many homeowners still believe an earthquake policy isn’t necessary because they buy into the “myths” of earthquake insurance. Click below to bust the myths of the business and learn the truth:

The deductible is too high, so the policy will never pay out.

THE TRUTH:
A residential earthquake insurance policy is designed to cover homes in highly populated residential areas in the event of a catastrophic earthquake. Experts predict a large magnitude earthquake will occur in California or the Pacific Northwest in the next 30 years. This earthquake has a high chance of rendering many neighborhoods either severely damaged or uninhabitable, leaving countless people homeless. Homeowners who are protected with a residential earthquake insurance policy will have security and peace of mind knowing that GeoVera will provide valuable protection when you would otherwise be facing a total loss. In this situation, an earthquake insurance policy is a wise investment.

The government will bail me out.

THE TRUTH:
Many homeowners think the government will be there to cover the financial burden when their home is a total loss due to a catastrophe. While FEMA is designed to offer individuals emergency assistance after a large catastrophic event, they are not going to repay all the equity lost to homeowners who suffered major losses. If you are faced with this devastating scenario, you may be lucky to receive financial assistance in the form of government loans to help get you back on your feet. However, these loans only provide a maximum of $200k, usually include a long delay before receiving funds, must be repaid, and may even come with tax implications. Even after dealing with this process of government loans, you will still be left without the equity you worked so long and hard to earn and will still be forced to begin rebuilding your financial nest egg from scratch.

The premiums are too expensive.

THE TRUTH:
Earthquake insurance is a wise investment as the best way to protect your equity from a devastating earthquake. As you grow your equity stake in your home, an earthquake insurance policy becomes an even more invaluable preventative measure for your financial future. GeoVera Insurance Company also offers affordable payment plans and desirable deductible options to create a flexible policy that provides the most value for your dollar.

My home is newer, so it's not at risk of being damaged.

THE TRUTH:
All structures, regardless of age or extent of retrofitting, are at risk of experiencing some to severe structural damage during a major earthquake. A large magnitude earthquake measuring 7.0 or greater is capable of causing billions of dollars in damage. Efforts to protect your home from damage caused by quakes will typically increase the odds that your property will withstand small and medium sized shocks. However, there is never an absolute guarantee that any structure can or will survive a large magnitude earthquake—exactly the kind that will destroy the most in the shortest span of time—no matter what year your house was built.

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