Earthquakes happen spontaneously throughout the year, but every once in a while there will be several in a short time period which causes people's curiosity to peak and start to wonder, do I have earthquake coverage on my homeowners insurance policy?  

The short answer is that your Illinois home insurance policy does not automatically come with earthquake coverage.  Earthquake coverage is an added endorsement that you can add to your policy.  The premium to add earthquake coverage is not very expensive and is based on the value of your home.  The deductible is much different than your standard deductible on your policy.  Most policies have a $500, $1,000 or even a $1,500 deductible.  Earthquake insurance will be much higher as it is based on a percentage of your homes insured value.  The typical percentages found on earthquake insurance is 10%, 15%, or 20%.   

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If you home is insured for $200,000 and you have a 15% deductible then you would be responsible for $30,000 before coverage would kick in.  

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If earthquake insurance is something that you feel you'd like to discuss further give Clark Carroll Insurance Agency a call at (815) 244-1570 to learn more.  We have offices located in downtown Mt. Carroll and Lanark, IL.