Categories:

Subscribe to our mailing list


Latest Tweet:

Follow NHA

Request a Quote?


Noyes, Hall & Allen Blog

Does Homeowners Insurance Cover Earthquakes?

October 16th, 2012     vontadmin2011

Maine felt a 4.0 magnitude earthquake on October 16, 2012. That’s certainly big enough to feel, but not likely to cause much damage to a solid structure.

As people checked their homes, more than a few Maine residents wondered if their renters, homeowners or condo insurance policy covers earthquake. The short answer: not unless you chose to. The chances are very slim: very few Maine residents buy earthquake coverage.

Maine earthquake insurance costs vary by company, from about $75 to $150 a year for a $400,000 home (much more for a brick home). You can add it on to your homeowners policy. Earthquake coverage carries a high deductible – usually 5% of the insurance amount. In other words, on that same $400,000 home, only damage above $20,000 would be covered. It would probably take much more than a 4.0 quake to cause that much damage.

If you would like a quote for Maine earthquake insurance, call Noyes Hall & Allen at 207-799-5541.

Leave a comment

Leave a Reply