You can able
to predict the occurrence of earthquake but can’t stop it. Earthquake is one of
the natural disasters which cause the shaking of buildings and land surfaces.
It can be occurring at large or small scale and their occurrences at minority
level won’t howbeit the major occurrences of earthquake cause heavy damages. To
get rid of the loss of earthquake you can secure your business and property
wealth by taking earthquake insurance. When buying a property or house the real
estate owners may provide commercial
real estate earthquake insurance if they availed for it.
- We can’t suspect that when earthquake will occur just when it is at the close call we can able to predict. If its magnitude is higher leads to heavy damages.
- You may face heavy loss due to it yet there is an option to be on the safer side from this kind of losses through the means of commercial earthquake insurance.
A question
will arise in mind what does commercial
earthquake insurance cover? When apply for this insurance. In general, it covers
the structural damage and damages to the business property such as inventory,
equipment and machinery caused due to earthquake. Even there are some policies
which also covers the loss on business income that happened due to the
interruption occurred in business because of earthquake.
Is the deductible of earthquake
insurance are high?
When
considering the commercial earthquake
insurance deductible it is comparatively higher than deductibles of other
insurance policies. The common earthquake insurance deductible is 15% but it is
not constant as the deductibles vary according to the buildings. The deductible
of earthquake insurance coverage were available at the minimum of 2% and ranges
up to 20%. The point that has to be remembered is the deductible of this policy
applicable only to the amount of coverage.
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