Jan 8, 2015

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. 
[where: 75230]

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