The question everyone has been asking: did you feel it? With the recent earthquake in Illinois we have had several clients asking about earthquake coverage. Many homeowners are not aware that earthquake is not covered in the standard homeowners policy rather it is an endorsement that can be purchased. The additional premium to add this coverage is quite reasonable in most cases between $25 and $75 a year.

Click Here to find out how much earthquake coverage will cost you.

The exclusion for earthquake in the standard homeonwers policy reads:

We do not cover loss to covered property caused directly or indirectly by any of the following, whether or not any other cause or event contributes concurrently or in any sequence to the loss:

Earth movement, meaning earthquake, including land shock waves or tremors before during or after volcanic eruption; landslide; mine subsidence; mudflow; erosion; earth sinking; rising or shifting. This exclusion does on apply to ensuring direct loss caused by fire, explosion, breakage of building glass or safety glazing material or theft.

Below is form 17083 (2-96) Earthquake Coverage

17083 (2-96)

EARTHQUAKE COVERAGE

Homeowners Policy - Form 3

It is agreed:

1.         COVERAGE

We cover accidental direct physical loss to covered property described under SECTION I -PROPERTY PROTECTION:

a. Coverage A - Dwelling;

b. Coverage B - Other Structures; and

c. Coverage C - Personal Property;

which is caused by earth movement meaning earthquake, including land shock waves or tremors before, during or after volcanic eruption. One or more earthquake shocks that occur within a 168-hour period shall be considered to be one earthquake.

2.         EXCLUSIONS

Under SECTION I - PROPERTY PROTECTION, EXCLUSIONS, exclusion a. (2) is deleted and replaced by the following:

            (2)        Loss caused to any extent by flood or tidal wave; landslide, mud flow, erosion, earth sinking, rising or shifting; mine subsidence or sink holes; or the filling of land.

3.         LIMIT OF INSURANCE

The insurance provided by this endorsement does not increase any limit of insurance stated in the Declarations or provided by the policy.

4.         DEDUCTIBLE

We shall pay no loss to covered property described under:

a.         Coverage A - Dwelling;

b.         Coverage B - Other Structures; or

c.         Coverage C - Personal Property;

until the amount of loss exceeds 5% of the total of insurance that applies to the damaged covered property. This deductible applies separately to each of these coverages. If the basic limit of insurance applying to any covered property is increased by the provisions of any other endorsement applying to the policy, we shall use the increased limit of insurance when calculating and applying the deductible. This deductible provision replaces any other deductible provision contained in the policy with respect to the coverage provided by this endorsement.

All other policy terms and conditions apply.