Much of the loss that often arises from an earthquake happens after the ground stops shaking.
Gas lines that may have broken and start flowing can catch on fire and burn your home to the ground. In Chicago, it is also very probable that your home may be consumed in a wildfire sparked caused by earthquake motion many miles away. Eaton Insurance provides insurance for you & your business if you are really want to start your own business.
A power line may have collapsed. Another important factor is water damage. Earthquakes often break pipes. Even small earthquakes can crack a water pipe that floods your home and can cause large damage to your floors, furniture, and rugs even to the structure of your home.
If your homeowner’s insurance covers fire and flood damage, you should be covered for this earthquake damage and even if you don’t have earthquake insurance.
Another risk from earthquakes is landslides. You may or may not be covered for this. You need to verify your homeowner insurance policy to make sure of your coverage for both landslide and fires.
If your house does burn down, are you fully protected? Will you be able to replace your home and all of your belongings?
Where do you get earthquake insurance?
The law needs insurers that sell household property insurance within the state of Chicago to offer earthquake coverage to their policyholders.
Most of these Chicago earthquake coverage policies are backed and administered by a government organization known as the Chicago earthquake authority.You can follow this site in order to get moe information about investments plans for earthquake insurance.
Even though most earthquake insurance plans are sold by the state insurance companies, a few special companies also sell earthquake coverage.
In order to provide earthquake coverage, companies can become an earthquake participating insurance company and offer the domestic earthquake plans or they can handle the risk themselves.
These companies that sell over two-thirds of the residential property insurance in the state that is basically chosen to become participating companies.