The problem with California homeowners is, because earthquakes are a rare occurrence, many opt not to purchase LA insurance coverage for quakes. But certainly you don’t want to wait until after such a disaster to discover that your current insurance policy doesn’t actually cover everything you’re likely to lose if a large temblor unleashes catastrophic results. There are a couple of things that you should consider rectifying now, which will give you some reassurance that will, not only allow you to enjoy some peace of mind, but also give you the full protection you deserve.
Make an inventory list of your valuables
Filing a claim when the time comes involves proving you owned items that were lost, and you’ll also need to verify their actual worth. This can be a breeze if you go through your home and record all items using a video camera or smart phone. Simply walk through each room, and capture images of everything that you own on tape or digitally. Otherwise, you can write everything down on a piece of paper, provided you have receipts as verification.
Keep all of this, your list and receipts, video or photos, in a safe-deposit box with a copy of your policy. If you plan on keeping your inventory records at home, make a second copy to give to a friend or relative, or keep this at your office away from home.
Handling the claims process
Ask the agent specific questions on exactly how to file a claim, and how claims are handled, especially when it comes to providing you with compensation in the form of money for repairs or replacement. Based on your policy, the company may pay you for all the things that were lost, or only those things that you decide to replace. You may wish to know whether you’ll receive your entire claim upfront, or just a fraction at first until the claim is completed.
Purchasing earthquake insurance is a safe bet
If you live in California, this is an area that is prone to earthquakes, even though major quake activity is rare. Your la insurance policy you should state whether or not you have this coverage in place. It pays to know that most standard property policies don’t cover these types of disasters. Play it safe and get this coverage before the next “big one” hits!