While earthquakes are mostly associated with states along the West Coast, recent research shows that NJ is actually rocked by minor earthquakes each year. The results of such an event can be catastrophic, especially if a minor scenario turns out to be major, which is why you need earthquake insurance in NJ.
Factors for Earthquake Coverage
Earthquakes have been known to bring buildings to the ground, and in areas, with high population density, the results can be devastating. Although insurance coverage for this type of natural disaster is not capable of protecting you beforehand, it can help you recover faster.
Some aspects of an insurance agent look for when determining your policy include the following:
- Whether your home is raised
- Single-story versus multi-story structures
- The age of your home
- The construction materials of your home
- The foundation of your home
For many of the above factors, the materials are important. For example, wooden homes allow for flexibility during an earthquake but a house that sits on a soil foundation is unstable. The insurance agent takes these elements into consideration when deciding the type and level of coverage you need for your home.
Being Prepared for Natural Disasters
Although you may associate New Jersey with flooding and hurricanes, it is a state that experiences earthquakes, too. That’s why it is important to protect yourself before the disaster happens with earthquake insurance in NJ.