Coverage Highlights / Key Features
- For home owners: Provides coverage for the Earthquake Deductible under your main Home Insurance Policy.
- For condo owners: Covers the portion of the Strata Earthquake Deductible that is not covered by your Condo Unit Policy.
Why It Matters / Benefits
In the event of an earthquake causing total or partial damage, it covers your share of the repair and reconstruction costs.
In the event of an earthquake, your deductible could be as high as 20% of your home or condo’s insured value. Depending on the value of your property, this could amount to $50,000, $100,000, or even more — an expense you would be responsible for paying out of pocket. Earthquake insurance helps protect you from this financial burden and also provides coverage for additional living expenses if you’re unable to live in your home while repairs are being made.
Who It’s For
- For home owners and condo owners