Earthquake insurance Archives - Spencer Insurance Agency, Inc

Are the hurricanes, tornados, earthquakes, wild fires and flooding over?

Earthquakes, hurricanes and flooding?

I must be talking about the West Coast, Midwest and Mississippi Valley regions.  Before August and September of 2011 if I talked to clients about earthquake insurance
and flood insurance, people would look at me like I had two heads!

August and September changed all that!  I don’t know about you but I am tired of cleaning water out of my basement.  Fortunately for me, I had only a few inches each time and my basement is not a finished basement.

Did you have the proper coverage for all your storm related problems?  Can you find the protection you need?  Did you check with your agent?

Now that the dust has settled a bit, it is time to review your homeowner’s insurance with your agent. Here is a list of the most frequent claims our clients reported from the recent storms and flooding:

  • Wind/Fallen tree damage
  • Sump pump failure and water backup
  • Flooding
  • Cars flooded
  • Roof damage

Another issue that pops up during a named storm is your deductible.  There is an insurance company is Pennsylvania that puts a “Named Storm” deductible on homeowner’s policies.  That deductible can be 2% of your “coverage A”.  That means if you have damage to your house from a “Named Storm” like Irene, you may need to pay the first 2%.  If your house is insured
for $250,000 that means your deductible is $5000.  Does your policy have this “Named Storm” deductible?

This type of “Named Storm or Hurricane” deductible is common in coastal areas or areas hit by tornadoes.  We may see more companies adding this type of deductible in Pennsylvania.  However, what many people do not know is they can lower that deductible or eliminate it and just have a normal $500 or $1000 deductible.  Sure, it will cost a few dollars more but it may be worth it.

Call your agent today to discuss your homeowner’s policy and to make sure you are covered for the above list of claims.

By the way. . . the three flooding claims that were reported to our office were in “B” or “X” zones  which are not considered 100 year flood areas and do not require the purchase of flood insurance.  All three clients were extremely happy they purchased the flood insurance even though they were not required to have it.  One of their neighbors who did not have flood insurance wants us to quote them.

Share with me by commenting below what your experience was with the storm.  If you have a question ask it in the comment section and I will respond.  As the Boy Scouts motto reads: Be Prepared!

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An Earthquake, Hurricane Irene and Tornados; Are you prepared for an emergency?

I felt my first earthquake last Tuesday and it was strange.  I thought our large dog, Bella, was banging into my chair.  That was before my desk started shaking and there was no dog in sight.

Fortunately for our area it does not seem that there was much damage and our dog Bella is fine.

The quake’s epicenter was in Mineral Virginia.  A couple weeks ago our family was on vacation near  Lake Anna in Mineral VA.  It is a small world.  During our vacation we took a boat ride of Lake Anna which took us past the nuclear power plant on Lake Anna.  It got me to wonder what emergency plans the power plant had in place.  I saw on the news where the plant went into immediate shutdown as a precaution and had back up pumps to cool the plant.  The plant had a plan!

What emergency plans do you have in place?  Yes, our area is fortunate that we don’t get earthquakes, tornados or hurricanes very often. However this past year we have had tornados, an earthquake and we are staring down Hurricane Irene as I write this blog.  You need to be prepared for an emergency.  It could be a flood, fire, or tree falling on your house.  It could also be something on a larger scale like a hurricane, tornado or earthquake.

FEMA has a website to help you in getting an emergency plan together.  Here is the link:

It does not hurt to be prepared.  We may not have another earthquake in my lifetime here in the East, but we are sure to have another bad storm with flash floods and fallen trees.  Call our office
at 215-885-2200 with any questions you may have about your coverage and how to prepare for an emergency.  Share your hurricane and earth quake stories with us.  Let us know what preparations you made and what damage you suffered.  Also, let me know if our email alerts were helpful to you.  Just leave your comments below.

A lot of people, including me, do not have earthquake insurance.  I suspect we may get a few questions about an Earthquake policy.  Call us if you have questions.