Do You Need Earthquake Insurance in Oklahoma?

You may be thinking, "surely not in Oklahoma"! However, it may surprise you to learn between 1990 and 2004, eleven earthquakes have occurred in Oklahoma. This number does not include the several felt in February, with magnitudes reaching up to 3.0. The question you need to be asking yourself is this: Does your insurance cover earthquakes? Did you even know it is offered!? Are you aware that when you sit down and sign a policy you are rejecting coverage on earthquakes ? You should be aware that to be covered for earthquake insurance is very inexpensive. Has your insurance agent told you the costs? If not, they should. It is important to understand what you are and are not covered for. As your agent, I am your advocate. It is my job to relay this information to you so that you know your options. I want to make sure you and your families are properly covered.

This endorsement amends the policy to include coverage for direct physical loss to property described in Coverage A, B, and C caused by earthquake. When earthquake coverage is provided, it does not increase the limits of liability stated in the policy and does not include the costs of filling land.

The deductible for loss covered under this earthquake endorsement is the amount determined by applying the deductible percentage of 10% separately to each of the following:
(a) the limit as shown the declarations for Coverage A- Dwelling;
(b) the limit as shown on the Declarations for Coverage B- Other Structures;
(c) the limit as shown on the Declarations for Coverage C- Personal Property plus the limit of coverage provided under any Scheduled Personal Endorsements.

In addition, the minimum deductible amount for any one covered loss under Coverages A, B, or C shall be $500 for each coverage that applies for loss.

For more information contact Jerry Szeszulski at American National Insurance 918-254-2578.