Should you buy Flood or Earthquake Insurance?

Many people living in the greater Las Vegas area have a homeowners insurance policy that excludes the perils of flood and earthquake.

Flood insurance is typically offered through FEMA and is available in the area for purchase. I recently quoted a client's flood insurance policy and the annual premium was about $400 for a 2000 square foot house. My agency has easy access to the flood program as a stand alone product through American Strategic Insurance. The program is easy to sign up for and covers your home and contents in the event of a flood.

Earthquake coverage is available as an add on peril for those with a Safeco homeowners policy. The coverage is relatively inexpensive and includes a 10% deductible. We also have access to a stand alone earthquake policy with either 5, 10 or 15% deductible options. These policies run about $600 per year for the same 2000 square foot home cited above.

If you are interested in exploring your insurance options for flood and earthquake insurance please do not hesitate to give me a call and we can prepare quotes for you!