Earthquake
Basic package
Only covers fire, explosion or smoke after an earthquake
Personal property and building package
Covers fire, explosion or smoke following an earthquake, as well as your property and your building.
Protections
Fire, explosion or smoke after an earthquake
This is the basic option. Following an earthquake, you’ll be covered for these three hazards only, which means your damaged personal property or building will not be covered. Although less inclusive, this option still covers risks that can cause a great deal of damage.
Getting additional coverage
If you want more than the basic option, you can add protection for your building and your personal property. Your coverage will then be extended to avalanches, rock slides and landslides, subsidence, volcanic eruptions and tidal waves that could happen as a direct result or in the course of an earthquake. Whether it is your TV falling down from the vibrations or a breach forming in a wall, be covered!
Included:
- Clearance costs
- Personal property transferred off-site
- Fire department charges
- Small structures on your premises
- Rental losses
Deductibles
To keep this coverage option affordable, a higher deductible is charged than with other policy options. Because an earthquake will affect many people and could do a lot of damage, a lower deductible would make this a very expensive option.
The basic option has the same deductible in the event of a claim as the one provided in the contract. If you opted for more protection, the deductible will correspond to a percentage of the amount of insurance purchased, depending on the option you chose.
- Option 1: Building and personal property, 4% deductible. The deductible is based on the amount of your insurance. For example, if your single insurance coverage (building + personal property) was $400,000, your deductible would be $16,000.
- Option 2: Building and personal property, 10% deductible. Same principle as option 1.
