In preparation for another natural disaster on the opposite side of the Pacific, Californians have been wondering how they can protect themselves through insurance in case of such an event. The natural disaster may not occur within the coming days, months, years and it may never come in your lifetime but being prepared for it could prove a very wise decision.
Does Earthquake Insurance Cover It?
Earthquake insurance is available for Californians and based on the recent events in Japan there might be a rise in it’s amount of consumers. At the moment, based on numbers, a lot of Californians either don’t think there will be a huge earthquake, don’t think it will have a profound impact on them to the point of needing insurance coverage, or don’t know that it’s not included in regular homeowners insurance. “Less than 12 percent of the state’s homeowners are estimated to have purchased quake policies, according to IINC.” Remember to ask your insurance agent how you can obtain earthquake insurance.
While earthquake insurance is fairly well known supplemental policy, a policy for tsunami’s are not heard of on a regular basis here in Southern California.
Is there such thing as Tsunami Insurance?
Technically, a tsunami is considered an act of god and does not have it’s very own policy. So is there anything you can do to help better prepare and protect yourself? The answer is NFIP (National Flood Insurance Program) that clearly states in federal law that it considers tsunamis as a part of the flooding in it’s insurance coverage.
Sec. 1370 (42 USC 4121)
(1) The term “flood” shall have such meaning as may be prescribed in regulations of the Director and may include inundation from rising waters or from the overflow of streams, river, or other bodies of water, or from tidal surges, abnormally high tidal water, tidal waves, tsunamis, hurricanes, or other severe storms or deluge.
So once again, the answer is YES!, you can get insurance for tsunamis in California.
Contact your insurance agent for any information pertaining to coverage for earthquakes, floods, hurricanes, tsunamis, floods, and other natural disasters.