Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Personal Finance  > Insurance > Earthquake Insurance

Earthquake Insurance Cost


How Much Does Earthquake Insurance Cost?

 
low costLow: Less than $1 per $1,000 valueaverage costMedium: $1-$3/per $1,000 valuehigh costHigh: $3-5+/per $1,000 value
post E-mail post Post   Comments (1)

Costs differ significantly depending on location and type of structure. Older buildings generally cost more to insure than newer structures. Most property insurance does not cover a loss that results from an earthquake unless you purchase separate earthquake insurance.

Typical costs:

  • Premiums are often set in multiples of $1000 replacement value costs.
  • In the Pacific Northwest, wood frame: $1-3 per $1000 replacement value; brick $3-5 per $1000 replacement value. A 2000 square foot wood frame house in Seattle with a replacement cost of $250,000 might cost $250-$750 a year to insure.
  • In the East Coast, wood frame:50 cents or less per $1000 replacement value; brick 60-90 cents per $1000 replacement value. A 2,000 square foot wood frame house in Buffalo with a replacement cost of $200,000 might cost $100 or less a year to insure, according to the Insurance Information Institute[1] .
  • In California, costs vary widely depending on the construction of the building, how old it is, how close it is to seismically active areas and the stability of the soil in the area. The average cost statewide is $500, but it can be more than $3,000 a year.
  • Most rates in California are set by the California Earthquake Authority and can be estimated at Earthquake Authority.com.
Related articles: Homeowner's Insurance, Flood Insurance

What should be included:
  • Coverage helps repair the damage to your home, ensures that new construction conforms to current building codes, replaces your personal property and provides for living expenses while your home is rebuilt.
Additional costs:
  • Lower deductibles increase premiums.
Discounts:
  • Premiums may be affected by the quality of construction on the covered building including whether the structure is bolted to the foundation, location and bracing of interior walls, straps that support the water heater, the way shelves are mounted to walls.
Shopping for earthquake insurance:
  • Ask the insurance company to suggest any repairs or improvements that can help minimize damage and reduce premiums.
  • Earthquake insurance deductibles are often much higher than those of typical homeowners insurance. Find out exactly what is covered by the policy.
  • Free quotes are widely available online at US Insurance Online.com[2] .
post E-mail post Post   Comments (1)
CostHelper News


Top 7 Ways to Trim Pet Expenses
Pets, for many, are part of the family; another member that needs love, feeding and treatment, just like anyone else in the household. || Posted September 18 2013


Forgotten Expenses In a Home Addition Budget
Items like construction costs, permit fees or debris removal aren't the only expenses to consider when calculating the total costs of a home remodeling project. || Posted August 5 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
EARTHQUAKE INSURANCE
Amount: $1,600.00 per year
Posted by: MACBUBBA in TARZANA, CA.Posted: August 17th, 2010 04:08PM
Insurer: PACIFIC SELECTInsured Amount: 849,000.00
BEWARE !!
THIS COMPANY IS AS CROOKED AS A DOGS HIND LEG. I PAID MY PREMIUM ON LINE & IT WAS ONE DAY LATE & I GOT CANCELLED AFTER 15 YRS OF POLICY. SAID WE HAVE A 3 DAY UNDISCLOSED CANCELLATION POLICY . FIGURED I GAVE THEM OVER 20K ALL IN ALL
Was this post helpful to you?   yes     no Report prohibited or spam


 

Comment On Your Experience With Earthquake Insurance
 
Subject:  *
Amount Spent:  * per year
Insurer: Insured Amount: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.iii.org/media/hottopics/insurance/earthquake
  2.  www.usinsuranceonline.com/?
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Do Funeral Flowers Cost? How Much Do Tax Returns Cost? How Much Does Closing a Home Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Outrageous Expense
Paid: 79000.00
1 hour and 20 minute flight from a hospital who is in my plan to a hospital that is in my plan and both have medflight helicopters... [more]
-Youare KiddingMe
Air Ambulance Cost
Family friend's wedding
Paid: 710.00
1 bridal bouquet/1 toss bouquet, 2 MOH bouquets, 1 jr bride bouquet, 5 bride maids bouquets, 2 wrist corsages, 2 flower girl baskets, 1 ring bearer pillow and supplies for 19 centerpieces (11 tall pilsner vases with approximately 20 flowers... [more]
-Mrs. Murray
Wedding Flowers Cost
Ignition coil
Paid: 46.00
Bought at O'Riley auto parts. Watched YouTube video.Removed 2 screws it sits on top of engine. Replaced coil and bad spark plug... [more]
-James Smith01
Ignition Coil Replacement Cost
Concussion
Paid: 7459.00
Hit my head hard and had speech deficit and blurry/double vision. Urgent care advised I go to Emergency because they had MRI. I was able to understand what I was told, but really having difficulty finding words and talking... [more]
-KS
Emergency Room Visit Cost
Cat declawing just front know anywhere that isn't outrageously priced??
Paid: 0.00
Need to have my 2 yr old cat declawed. Unfortunately where I live they are now making it mandatory. My vet I currently use wants over $450. I really can't afford that. I'm currently dealing with medical issues myself and getting chemo etc... [more]
-Livey
Cat Declawing Cost
Pricing--alterations/custom
Paid: 0.00
I have to chuckle over the comments about pricing. Custom dresses should not cost less than ready to wear (unless you are buying the label/shop name). The things I try to remind brides of are: 1. I make your pattern for you alone... [more]
-smsivulabydesign
Wedding Dress Alterations Cost