Keeping your home or business safe means anticipating all disasters, even those caused by Mother Nature. But if you’re unsure of which natural disaster coverages are required, trying to establish the right combination of protections for your home or business can be confusing. You might not know whether to get additional coverages, like earthquake insurance.

Fortunately South Carolina independent insurance agents can help you determine if adding earthquake insurance is the right move for your home or business. They’ll even be able to get you set up with the right policy for your needs. But before we get too far ahead of ourselves, here’s a closer look at earthquake insurance, and if it’s required in South Carolina.

Is Earthquake Insurance Required in South Carolina?

The short answer is no, earthquake insurance is not required in South Carolina by either personal or business mortgage lenders. So, no matter if you own or rent your home or business, it’s not mandatory for you to have an earthquake policy. Earthquake insurance is entirely optional, but if you live in an area prone to these disasters, it can save you a lot of money in the long run. The damage from just one earthquake can be devastating, and literally shake a building to its core.

Earthquake Damage Stats in South Carolina

When deciding whether to add an earthquake insurance policy, it’s helpful to know trends for this type of disaster in your area. Check out some rattling stats for earthquakes in South Carolina:

Though earthquakes are far from the most common natural disaster in South Carolina, the effects from just one occurrence can be beyond devastating. Your South Carolina independent insurance agent can help you decide if adding earthquake insurance makes sense for you.

What Does Earthquake Insurance Cover?

Earthquake insurance in South Carolina provides crucial protection for your home or business in the event of an earth movement disaster. While policies can vary, earthquake insurance typically includes the following protections:

• Coverage for your home/business’s structure.
• Coverage for your home/business’s foundation.
• Coverage for your home/business’s interior.
• Coverage for external or detached structures, such as sheds.
• Coverage for disastrous events resulting from an earthquake, such as cliffs collapsing onto a business or a home sliding down a hill.

Not all policies include coverage for external structures. In order to qualify for insurance reimbursement, your home or business must have been damaged due to activity from earth movement. A South Carolina independent insurance agent can help explain even more about the importance of earthquake insurance, and how it could protect your home or business.

When Does Earthquake Insurance Cover Homes or Businesses in South Carolina?

An earthquake insurance policy will cover your home or business’s damage caused by earth movement after you pay the deductible amount out of pocket. Earthquake insurance deductibles can be $1,000 or higher. Once your deductible has been met, your coverage will kick in and take care of the remaining costs to repair your home or business after the disaster.

What Doesn't Earthquake Insurance Cover in South Carolina?

Basically, earthquake insurance in South Carolina does not cover any damage not relating to earth movement events. Just a few examples of perils not covered by earthquake insurance include:

If you have more questions about what your earthquake insurance policy does and does not cover, a South Carolina independent insurance agent can clear up any remaining confusion for you.

How Does Earthquake Insurance Affect Car, Home, or Business Insurance?

According to insurance expert Paul Martin, an earthquake insurance policy won’t affect your underlying car, home, or business insurance policy. Earthquake insurance is often purchased as a separate, stand-alone policy to add onto South Carolina homeowners insurance or business insurance. The other option is to add an earth movement endorsement onto your homeowners or business insurance. The only change to your policy would be a bit of an increase in your premium.

As far as car insurance, earthquake damage is included if you purchase South Carolina comprehensive car coverage. This type of policy covers damage to your vehicle that is classified as “other than collision,” including natural disasters like earthquakes. Your South Carolina independent insurance agent can help you review your car insurance policy and get you set up with comprehensive coverage if you don’t already have it.

Here’s How a South Carolina Independent Insurance Agent Can Help

When it comes to protecting home and business owners against natural threats like earthquakes, no one’s better equipped to help than an independent insurance agent. South Carolina independent insurance agents search through multiple carriers to find providers who specialize in earthquake insurance, deliver quotes from a number of different sources, and help you walk through them all to find the best blend of coverage and cost.