Do you need earthquake insurance in Dallas?

Given the seismic activity we've seen this week in the Dallas area, lots of folks are wondering about earthquake insurance.

This morning I got the scoop from insurance broker Clay Hart with Home Team Insurance. Here is what you want to know about earthquake insurance in Dallas:

• Earthquake endorsement insurance is available from just a few companies in Texas. Home Team Insurance is one of them.
• It is inexpensive - only $100-$250 a year depending on the value of the property.
• Earthquake insurance is considered to be catastrophic insurance and carries a deductible of about 10%.
• It's used when there is devastating earthquake damage - which we have no records of in Dallas.
• The chances of significant earthquake damage in Dallas are so low that almost no one has earthquake insurance here. 

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