Insurance coverage that provides protection against earthquake damage to a structure, its contents or both. Usually available by endorsement or as a separate policy.
Earthquake insurance can be purchased as past of a fire insurance policy to cover some of the fire and other damage to housing and personal property caused by an earthquake, volcanic eruption or tidal wave. However, many policyholders waive coverage because of the high premiums. There are no policies which cover only earthquake damage. Insurance will pay for only 30-50% of quake-caused damage, with a maximum of 50 million yen paid out for a home and up to 10 million yen for personal property. The government will cover some of the damage caused by a major earthquake in cases where insurance companies alone can not meet all of the claims. Insurance companies quote premium rates calculated by the Fire and Marine Insurance Rating Association of Japan. The organization reported to the Financial Services Agency on March 1, 2001 that it would lower earthquake insurance premiums by an average 16%. *Refer to Property and Casualty Insurance Rating Organization of Japan.
Insurance that compensates for physical property damage resulting from earthquakes to an extent depending upon the terms of the policy.
Normally sold as added coverage (an "endorsement") to a homeowners policy.
Insurance against damage by earthquakes and earth movement. Written most frequently on the Pacific coast.
A type of catastrophic coverage available for an additional premium to repair or replace your property/personal belongings when damaged by an earthquake. Standard home insurance policies do not cover earthquake insurance.
Insurance that covers damage to a structure, its contents or both as the result of an earthquake. Available as a separate policy, as an endorsement to the Dwelling or Homeowners policy and through the Causes Of Loss — Earthquake form for the Commercial Property coverage part.
A specific policy covering home repair and the replacement of personal property lost to seismic activity.
Insurance against damages from earthquakes or earth movement. This coverage is typically excluded from Property Insurance policies, especially in earthquake-prone geographical zones, unless purchased as an Endorsement for an additional premium.
Although the West Coast is often associated with earthquakes, other areas are also prone to earthquakes. An earthquake insurance rider on a homeowners policy pays to repair or rebuild your home if it is damaged in an earthquake. If you live in an area with earthquake risk, get earthquake insurance coverage
Insurance covering damage caused by an earthquake as defined in the contract.
Earthquake policies are similar to regular homeowner's policies but without the liability coverage. You choose a dollar ceiling for the dwelling coverage, and a percentage of this ceiling is then applied to coverage's for personal property and additional living expenses (hotel expenses if your home becomes uninhabitable). Premiums for these policies are usually rather steep in the places where you would need to buy one. Until recently, the only place Californians could buy the coverage was from the California Earthquake Authority, which offered skimpy coverage. But the market is opening up again and some other companies are offering old-fashioned policies with better coverage (at higher rates, of course).
A policy that provides coverage against damage to a home from an earthquake.
Insurance against damage by earthquake.
(not recognized in Britain) Insurance that compensates for damage to a property resulting from earthquakes. The extent of coverage is limited by the terms of the policy.
Covers a building and its contents, but includes a large percentage deductible on each. A special policy or endorsement exists because earthquakes are not covered by standard homeowners or most business policies.
Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage.
