Why? Because this is California.
Earthquake insurance is good to have if you live in an earthquake zone, like we do. States such as California experience earthquakes often, so residents there are advices to have this coverage. California has many condos, homes, and apartments, all of which can be destroyed during an earthquake. If you have a homeowner’s policy, then it does not cover earthquakes. This coverage must be added or separately purchased.
Even if you are not in California, living in any region that has earthquake activity requires coverage to be fully protected. Coverage is affected by several factors, such as whether you rent or own the property that you call home. A renter needs coverage to protect personal belongings that are inside the apartment or house, but the actual homeowner needs a policy that covers the structure.
Some insurance agencies allow you to add additional coverage known as a rider. It goes along with your regular homeowner’s insurance. But if you rent, then a separate policy is appropriate. Remember that if you have damage from a quake, you will need specific earthquake coverage to receive compensation.
You might be able to save on a policy if your house is wood-framed. This is because wood is flexible and likely to suffer less damage during an earthquake. Also, some homes are constructed with specialized features that make the structure more resistant to damage.
Speak with an insurance agent to see if earthquake insurance is right for you.