Some of the places are extremely prone to earthquakes. Earthquake Insurance provides protection against the property damage caused by the earthquake. It is similar to that of house insurance or that of property insurance. The policyholder pays a premium amount to cover the risk of damages due to earthquake. Some house owners when they buy home insurance think that they need not bother about Earthquake Insurance, but it is important to know if their insurance has the risk coverage for earthquake or not. But it is important to know the basic home insurance policy does not cover the risk of earthquake and they need to buy earthquake insurance policy or they need to pay higher premiums to get earthquake risk coverage. You should take care of risk coverage for repairs or replacement of the damaged property.
It is always better to know how much risk coverage you are going to get and what type of household materials are covered under this risk coverage. Does all your electronic equipments like TV, Fridge, furniture and clothing are covered under insurance in case of damage.
What is the cost of these materials? What will be your living expenses in case you have to make alternative arrangements till the repair work completes after earthquake. The estimated cost to rebuild your house, and the mortgage details to repay the loans in case of disaster like earthquake while you have your house rebuilt? All these things will be taken into account when you purchase Insurance for earthquake risk coverage. To know more details about this type of insurance you can log on to www.igainsurance.com.
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