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I've been getting asked a lot about earthquake insurance by homeowners and property investors. Many are wondering if they need it on the Wasatch front. It's a really good question, and there are a couple important factors that come into play. You need to consider where you live and what type of home you have.
I think earthquake insurance - and whether or not to get it - falls into the same realm as flood insurance sometimes. The one fact that we know here in the valley is that inevitably, we will have a large earthquake here in Salt Lake. At some point, that insurance would be a good idea.
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Inevitably, we will have a large earthquake here in Salt Lake.
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When looking at the home, consider the age of the structure and the type of construction. If your home is unreinforced brick, it may not qualify for earthquake insurance.
My best advice is to enlist a really good insurance agent. We have several great insurance agencies that we work with who treat us very well, and they know this stuff in and out. We're able to provide you with a recommendation for a great agent who can answer any and all specific questions you may have. Personally, I know enough about it to answer some preliminary questions.
Insurance is important, and just like a real estate professional, I think you need to work with somebody who knows what they're doing, does it frequently, and has a solid track record. If you're interested in learning more or getting in touch with one of our trusted insurance agents, reach out to me! Likewise, if you have any questions I can answer about earthquake insurance or anything related to real estate in the Valley, don't hesitate to contact me.
