Do I need earthquake cover in the Caribbean?

Q: Do I need earthquake cover in the Caribbean?

If you own property, probably yes. Earthquake damage is usually excluded from a standard property policy and sold separately. The region sits on active fault lines, so it is worth asking about before you need it.

Home & property Business Earthquake Caribbean (15 countries)

Short answer

If you own property, probably yes. Earthquake damage is usually excluded from a standard property policy and sold separately. The region sits on active fault lines, so it is worth asking about before you need it.

What is usually covered

Cover for shaking damage to the building, when you buy it as an add-on or a separate policy.
Some policies also cover the contents of the home, but often only if you ask for it.
Fire after an earthquake is commonly covered under the fire section of a standard policy, though wording varies.

What is usually left out

Earthquake itself is the common exclusion in a standard policy.
Tsunami and landslide damage may be handled differently from shaking, so ask about each.
Earthquake policies often carry a large deductible, set as a percentage of the insured value.
Damage that was already there before the policy started.

What to ask your agent

Is earthquake cover available for my property, and is it a separate policy?
What is the deductible, and is it a percentage of the building value?
Does it include tsunami, landslide and fire after the quake?
Is the insured amount enough to rebuild to today's building standards?

Do this now

Ask your agent whether earthquake can be added to your current policy and what the deductible would be. If your building is older, ask whether its construction affects the price.