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One week after magnitude 5.7 earthquake, questions arise about earthquake insurance

What does earthquake insurance cover?
Posted at 12:15 PM, Mar 25, 2020
and last updated 2020-03-25 14:15:35-04

SALT LAKE CITY — The aftershocks continue one week after that magnitude 5.7 magnitude earthquake rocked the Salt Lake Valley.

Many people whose homes were damaged are finding out their homeowner's insurance policy either doesn’t cover earthquake damage or that there are limitations to the coverage they do have.

Others who now want earthquake coverage are getting a bit of sticker shock to learn it can be pretty expensive, if their company even offers it at all.

Utah’s Insurance Commissioner is now advising everyone, now that things have settled down, to have that conversation with your insurance agent.

"Not just about earthquake, but is my diamond ring covered, are my guns covered, the antiques that I own, there are exclusions and limitations on lots of policies," Commissioner Todd Kiser said. "Ask your agent those hard questions so you're not finding out after the fact that you have limitations or no coverage."

Kiser said frame homes are less expensive to insure in the event of earthquake damage while stucco and brick homes cost more.

He also said most companies likely have a moratorium on issuing earthquake insurance policies for the next several weeks due to so many people now inquiring about it.

There’s more information and tips on the Utah Insurance Department website.