While earthquakes in Virginia are rare, they can actually be more devastating than the same earthquake size in a California community because Virginia homes are not designed and built to withstand a tremblor as a California home might be.
Earthquake damage is not covered under a standard homeowners policy, so it may behoove you to consider additional earthquake coverage. Earthquakes, including land shock waves or tremors before, during, or after a volcanic eruption, explosion or effusion are covered with this policy. The premium depends on the construction classification for your home and the amount of Coverage A-Dwelling insurance on your home. It is subject to a special deductible equal to 2% of the amount of Coverage A-Dwelling insurance.
As an example, the premium for earthquake insurance on a brick home insured for $500,000 under a Homeowner Form HO-3 would be $325 with a deductible of $10,000. This deductible applies separately to Coverage A-Dwelling, Coverage B Other Structures, and Coverage C-Unscheduled Personal Property.
Earthquake Coverage cannot be added to your policy until your home is re-inspected by the Society for pre-existing earthquake damage.
Contact your Mutual Assurance Representative for more information on adding earthquake coverage to your policy.
To learn how you can prepare your home to better withstand an earthquake, click here.