Does my Oklahoma Homeowner’s Insurance Cover Earthquake Damage?

Usually when we hear about earthquakes, we don’t generally think about Oklahoma even though a major fault line runs through our state. Typically we think of California as having more of an earthquake issue than the Midwest. That all changed last month when a mid size earthquake shook through Norman and the Oklahoma City area. We felt it all the way through Tulsa and even our small town of Claremore.

This got many of our clients thinking about their Oklahoma Insurance policies and if they had coverage for earthquake damage under their home insurance. Sadly, earthquakes are NOT covered under your Oklahoma Homeowner’s Policy. It is an additional coverage that you have to specifically ask to add. Talk about a surprise to a lot of our clients who didn’t have this coverage.

In general, earthquake insurance will cover the expenses that come with the repairs and replacement of damaged property. There are many options to choose from. In most cases, coverage to protect garages and other structures will need to be purchased in addition to basic earthquake insurance. Insurance for personal contents and temporary living/business expenses may also need to be quoted in addition to the basic earthquake coverage.

If you decide to purchase earthquake insurance, remember you should buy enough to cover the costs to rebuild and replace, not the market value or what you paid for the item.

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