Earthquake Insurance

The cost of insurance can vary widely depending on several factors. On average, insurance premiums in Utah can range from $500 to $3,000 annually, but your specific rate may differ. Factors that affect the cost include your home’s location relative to fault lines, the age and construction of your home, the amount of coverage you choose, and your deductible. Earthquake insurance typically has a higher deductible than standard homeowners coverage, often 5% to 25% of your home’s insured value. At UCCU Insurance Services, we can provide you with an insurance quote tailored to your specific situation, helping you find the best balance between comprehensive coverage and affordability.

Determining if insurance is worth it depends on your individual circumstances and risk tolerance. While it’s especially crucial for those living in high-risk areas, even regions with moderate risk can benefit from this coverage. Consider that even a minor shake can cause significant damage, and without insurance, you’d be responsible for all repair costs. Additionally, if you have a mortgage, your lender might require earthquake coverage. At UCCU Insurance Services, we believe that the peace of mind insurance provides is valuable for many homeowners. We can also help you assess your risk and decide if insurance is a worthwhile investment for your situation.

Standard renters insurance typically does not cover damage caused by earth shakes. If you’re a renter concerned about potential earthquake damage to your belongings, you’ll need to purchase separate earthquake coverage. Some companies offer earthquake endorsements that can be added to your renters policy, while others provide standalone earthquake policies for renters. We can also provide you with an insurance quote and help you understand the best options for your situation as a renter.

The main difference is that standard homeowners plan typically excludes damage caused by earthquakes, while earthquake coverage specifically covers this risk. Homeowners insurance protects against perils like fire, theft, and certain types of water damage, but damage is almost always excluded. Earthquake insurance, on the other hand, covers damage directly caused by earth movement, including structural damage, personal property loss, and additional living expenses if your home becomes uninhabitable. It’s important to note that earthquake insurance often has higher deductibles than standard homeowners policies. At UCCU Insurance Services, we can help you understand how insurance complements your existing coverage and also provide you with a comprehensive insurance package that protects against a wide range of risks, including movement in the earth.