02/28/2025
As Earthquake Awareness Month concludes on the final day of February, we urge Tennessee consumers to prepare for the potential financial impacts of earthquakes by learning more about earthquake insurance today and making sure that they have adequate insurance coverage in the event of an earthquake.
Remember: An earthquake insurance policy can decrease financial losses in the aftermath of an earthquake.
While considering an earthquake insurance policy, remember these important tips:
-When you shop for an earthquake policy, don't forget about the deductible. A deductible is the amount the homeowner is responsible for paying on each claim. The deductible for earthquake insurance is usually 10% to 20% of the coverage limit. For example, if your home is insured for $200,000 a 10% deductible would be $20,000.
-Depending on the policy, there may be separate deductibles. Your home, your belongings, and outside structures like detached garages and fences may all have individual deductibles. Make sure you know your policy.
-Some policies may pay up to the total of one or more of the coverage limits if the damage is more than the coverage limits. Always check with your insurance agent to learn how the deductible may work for your earthquake coverage.
Questions? Follow the link: https://www.tn.gov/commerce/news/2025/2/3/tdci-tema-use-earthquake-awareness-month-to-learn-more-about-the-importance-of-insurance.html
