Recent tremors shine light on earthquake insurance
The recent quakes near the Coachella Valley are now putting a spotlight on getting property insured in case of possible damage.
“So you don’t have insurance? No.”
It’s a common answer for many people when it comes to earthquake insurance. For Farmer’s insurance agent, Javier Reyes, t’s a reality he sees among his clients.
“Sometimes people need to have an event happen to make them think about what could happen,” he said. “Sadly it’s human nature.”
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Reyes says having coverage can help greatly offset any repairs, as without the insurance, the homeowners themselves are responsible for the repairs out of pocket.
“An earthquake policy will help you rebuild without an astronomical cost to you,” he said.
One local homeowner believes the insurance is not worth it, while another is considering getting it.
“We had a huge deductible and the rates have gone up so it’s not a very good buy anymore,” Jim Nunan of La Quinta, said.
“It’s a safeguard isn’t it,” Kenneth, of La Quinta, said. “That’s what it amounts to so I should be kinder about that I think. I guess i would. I”m for it.”
According to the California Earthquake Authority, insurance rates have dropped about 50 percent in recent years, with the average yearly premium now about 750 dollars.
“It’s actually more affordable and more attainable than people think. Most people think earthquake…it’s very expensive. It’s actually very affordable.”
It’s peace of mind Reyes says that homeowners can have if the “Big One” ever hits our area.
