Commercial Earthquake Insurance
A natural disaster can destroy a business. Be it a fire or a flood or some other covered calamity, with insurance it is possible for a business to recover virtually unscathed from a major trauma such as an extreme weather event or even a large seismic event. Indeed, an earthquake is the kind of event that can quite literally level a business and leave nothing but rubble. And, of course, the worst case scenario can also occur in which employees are hurt during the quake- should that occur the employee(s) could very well file personal injury lawsuits. So, an earthquake could destroy the building and injure employees- all that could equal financial devastation for the business. Keeping all this in mind, earthquake insurance becomes a no-brainer for any business located in a active seismic area.
Earthquake insurance is in place to cover damages that are a result of an earthquake and is available for any business or home. Should a wall collapse or an entire building come down any destroyed items or structural parts can be included in the policy coverage. This insurance is ideal for those who own a building, be it residential or commercial, in an earthquake zone- California being a prime example.
Each earthquake insurance policy is tailored for the policyholder and most are engineered to fit the specific requirements of the individual company or policyholder. In some policies, all forms of damage are not covered. For example, if a temblor causes a flood in someone’s home, it may not be covered and, in that specific case, would not be helpful. As always, it is important to be fully informed as to the content of the policy being purchased. Basically, most earthquake policies cover some but not all kinds of damages, so read the policy in detail to be fully educated.
Earthquake insurance is in place to protect you for potential losses and property damage resulting from an earthquake. Normal home insurance does not generally cover damages sustained in an earthquake. If an earthquake does happen, then having proper coverage and financial protection is highly important.
An earthquake insurance policy is helpful to both business and home owners. It can help to keep you from financial loss in the event of an earthquake, but also, maybe most importantly, you will have the feeling of peace of mind knowing that you are protected. Should you live in an area of seismic activity, don’t wait until it is too late to obtain the proper insurance coverage.