The recent temblors rocking Southern California have been a sober reminder that earthquake insurance is an essential consideration for homeowners, says Weili Lu, director of Mihaylo College’s Center for Insurance Studies, in a recent article published by The Orange County Register.
“With the so-called ‘big earthquake’ coming, I think earthquake insurance is very important,” Lu told the Register. “It will help you get back to your normal life financially as fast as possible. As a homeowner you need to protect yourself.”
In the last 20 years, the number of California residences with earthquake coverage has declined by more than 20%. Lu says that a lack of knowledge about this type of insurance may be a hindrance for homeowners, and she suggests shopping carefully for the policy that best suits both an owner’s budget and coverage preferences.
To read the Register story and learn more about what homeowners should consider when searching for a policy, click here.