Do I Really Need Liquor Liability Insurance in Texas?
Standard Texas home insurance policies do not traditionally cover damage caused by earthquakes or floods. In fact, your homeowner’s policy probably excludes damages by these natural disasters so you may be interested in a separate insurance policy to protect your home and financial investment.
In recent years some insurance companies have begun to offer an earthquake endorsement to amend your existing policy and add this important coverage by request. Ask your Britton and Britton Insurance agent about this very affordable coverage option and availability on your current home insurance policy. If by chance it is not available, then request your agent simply provide a quote for standalone earthquake policy protection through one of their other insurance companies.
“If a flood or earthquake destroys your home, you still have a mortgage obligation so insurance protection is a matter of importance.”
What are the primary causes of earthquakes in Texas?
Shifting tectonic plates and existing known faults, along with adjustments in substructures from manmade activities are the primary causes of earthquakes in Texas. Explosive volcanic eruptions could hypothetically be considered a contributing factor, however, the volcanic sites in Texas are thought to be extinct.
As the practice of hydraulic fracturing, or “fracking,” becomes more common, scientists are concerned that the incidence of earthquakes may be increasing in the coming years. The analysis by Rystad Energy https://www.rystadenergy.com/newsevents/news/press-releases/treating-the-us-oil-industrys-dark-water-as-earthquakes-increase-billions-needed-to-switch-course/ “showed that earthquakes of above the given magnitude accumulated to a count of 242 in 2017, growing to 491 in 2018, 686 in 2019, and 938 in 2020. Around 570 such tremors have been recorded through the first five months of 2021, meaning we may see a new record this year if the trend continues.”
Where do earthquakes occur in Texas?
The Balcones fault in central Texas and portions of the more mountainous western region experience the most shifting. Most of the reported earthquakes were felt in the Panhandle and western Texas. With some reports eastern and south-central region of the state near San Antonio and along the Balcones Fault that runs near Austin. Follow this link to see a list of reported earthquakes in the past 30 days. https://earthquake.usgs.gov/earthquakes/map/?extent=25.46342,-111.00589&extent=37.70147,-85.58353&range=month&magnitude=all&listOnlyShown=true&showUSFaults=true&baseLayer=terrain
What does earthquake insurance cover?
Earthquake insurance can reimburse for damage to the structure, temporary living expenses and personal property replacement subject to the deductible
How much does earthquake insurance cost?
There is no average rate for Texas standalone earthquake insurance. The cost will depend on your location and the value of the home, your property, your deductible selection and the items you want to insure. Separate earthquake policies are usually inexpensive because earthquake damage is rare in Texas currently costing less than $200.00 dollars per year for the average home.
How do you find Texas earthquake insurance quotes?
Contact your local Britton and Britton independent insurance agent and we can start working on your quotes. If you prefer to submit online simply complete the quote request for “homeowners” and in the remarks section note interest in earthquake quotes as the same information is required for both.
https://www.brittonandbritton.com/get-a-quote/
Find out more information on earthquakes by visiting https://www.usgs.gov/natural-hazards/earthquake-hazards/earthquakes
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