Do You Need Earthquake Insurance?

Government and private-sector officials across the country this week are testing their preparedness for a major earthquake, and Missouri’s top insurance regulator says consumer should do the same. State Insurance Director John Huff says consumers need to buy extra insurance to be covered for earthquake damage. Huff says standard homeowners and renters insurance policies specifically exclude earthquake coverage. Huff says it would be a good idea to have a talk with your insurance provider to help determine if you need that kind of policy rider. In 2010, the department reported that earthquake insurance costs about $10 per month on a $200,000 home in most parts of the state. In St. Louis and southeast Missouri – areas most likely to be affected by an earthquake – the insurance averages about $40 per month.