Top 5 questions regarding Earthquake Insurance

1. What is my deductible with earthquake insurance?
Typically, earthquake insurance is going to have a separate deductible option from your “primary” deductible. The deductible will typically be a percentage of your building coverage. For example, if home is covered for $175,000 and you have a 5% deductible, the deductible for the earthquake coverage is $8,750.

2. How do insurance companies determine earthquake insurance premium?
Your home’s location, construction type of your home, cost to rebuild your home, and deductible amount are the major factors in determining your premium.

3. Is my earthquake insurance a separate policy like flood insurance?
For Tennessee, coverage is typically just endorsed onto the homeowners policy.

4. How can I find out if I am close to a fault line?
Here is the most recent map
Earthquake map20170823 7991 1l2o45c
5. How many fault lines are in Tennessee?
The major fault line is the “New Madrid Fault” line that runs west of Memphis, Tennessee. The other fault line is in East Tennessee. If either fault line were to have any activity, the entire state will likely be affected.