Earthquake insurance: What you need to know

Here in Washington State we are at the second highest risk of earthquake in the country – California is first. Knowing about this danger, we can prepare to survive an earthquake by storing food, water, and other necessities. To resume our lives after an earthquake, we need earthquake insurance to repair and rebuild our homes. Standard homeowners’ insurance does not cover damage caused by an earthquake.

The Northwest Insurance Council estimates that coverage for a wood home in Washington worth $500,000 could be between $1.50 and $7.50 for each $1000 of the home’s value ($750 to $3750 per year). Brick homes could be twice that much in a state as seismically active state as Washington.

Your insurance premium is calculated on your individual home: the estimated replacement cost, the earthquake risk in your area, and its age.

We are always available to answer your questions about earthquake insurance. Contact us at Phillips Insurance, (425) 485-8660, or