Serving Northwest Oklahoma since 1895                Insurance ~ Real Estate


Earthquake Insurance


A couple of months ago we advised that, due to the sudden outbreak of earthquakes in central Oklahoma, the insurance carriers offering earthquake insurance in the Sooner state were issuing a waiting period before they would begin to bind this coverage again.  We now have some markets that have announced they will issue either stand alone earthquake policies or endorsements to existing homeowners policies providing coverage for earthquake damages. 


But be forewarned!  The deductibles for earthquake insurance are substantial, ranging anywhere from 1% of the building limit (for instance, a $1,500 deductible for a $150,000 building) to a deductible amount of $20,000.  In essence, this is insurance that will only respond if earthquake damage is severe.  And the minimum premium for a stand alone earthquake policy is $2,000. 


Due to what we've seen in recent months, there is indeed an earthquake exposure in Oklahoma.  If you would like to enquire about this insurance and see how much it would cost for your home or business, by all means contact us!






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