Search thousands of topics on CostHelper

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports 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 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 Post   Comments (1)  
CostHelper News


10 Quick and Inexpensive Home Makeover Projects To Do While At Home
You may not be able to host the large family gathering for the holidays, but there are still many ways to pick up items curbside to spruce up your indoor space for your everyday enjoyment and to bring a more festive spirit. || Posted December 30 2020


10 Key Ways to Prepare for Extreme Snow
Forecasters are predicting a true nor'easter will hit the eastern and central states with rain, thunderstorms, ice, snow and high winds over the Thanksgiving weekend. It's crucial to plan ahead, before bad weather hits. || Posted November 26 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
Radiologist Fee
Paid: 350.00
Any radiologist reading your mammogram will be at least $350. They have 11-13 years of training after high school before they begin work. If they are not board certified, watch out. Most are and it beats getting cancer... [more]
-Lowes Fan
Mammogram Cost
DIY Ceiling
Paid: 50.00
We bought a house with a cheap paint job. The ceilings were sprayed the same color as the walls. During COVID I painted the ceilings and a bathroom. A 120 square foot room took me about 4 hours (2 coats)... [more]
-Lowes Fan
Painting an Interior Cost
DIY vs Installed Small Deck
Paid: 3000.00
We paid $1300 for materials and $1700 for labor on a 100 square foot composite deck plus a redwood gate. It took 30 hours, done last year. My husband built a 100 sf heart redwood deck for about $1000 in materials in 2019... [more]
-Lowe's Fan
Redwood Deck Cost
Colposcopy with biopsy
Paid: 756.00
This service was wayy to expensive in my opinion. For a 20-25 minute total visit I had to pay out of pocked 756 - 187 to OBGYN, 229 to pathologist, then 340$ for facility fee or the hospital. I don't even know what that charge was for... [more]
-D S
Colposcopy Cost
Bilateral Diagnostic Mammogram and Third Mammogram
Paid: 1389.66
My 2021 bill, still in shock! Weill Cornell, in-network provider, billed my insurance $908 for a bilateral diagnostic mammogram, and $712 for a third mammogram one breast... [more]
-GinaF
Mammogram Cost
shoulder mri
Paid: 8000.00
Seriously, 8K for an MRI before all the secret insurance kicks in. I was stuck with a 1200 bill and my insurance is pretty good. This is insane for a 20 minute procedure with no nurse assistance... [more]
-stevej45
MRI Cost