It’s important to note that standard property insurance policies usually do not cover damages caused by earth movements, making this type of coverage essential for property owners.
Earth movement insurance is a type of insurance that provides financial protection against damage or losses caused by earth movements. Earth movements refer to various natural events that can result in the shifting or displacement of the Earth’s surface, leading to potential damage to properties or assets.
Typically, earth movement insurance covers the following types of events:
- Earthquakes: This includes seismic activity caused by the sudden release of energy in the Earth’s crust, leading to ground shaking and potential structural damage.
- Landslides: These occur when large masses of soil, rock, or debris move downhill, often triggered by heavy rainfall, volcanic eruptions, or human activities.
- Sinkholes: A sinkhole is a depression or hole in the ground caused by the collapse of a surface layer, often due to the dissolution of underground limestone or other geological factors.
- Subsidence: Subsidence happens when the ground sinks or settles due to various reasons, such as mining activities, underground water withdrawal, or natural geological processes.
- Volcanic Activity: Some policies may also include coverage for damage caused by volcanic eruptions, such as lava flows, ashfall, or other related events.
The specifics of coverage, exclusions, and deductibles may vary depending on the insurance provider and the location of the insured property. Policyholders should carefully review the terms and conditions of their earth movement insurance to understand the extent of coverage and any limitations. In regions with higher risks of earthquakes or other earth movements, dedicated earth movement insurance may be a separate policy or a rider added to an existing property insurance policy. If you would like to discuss your options for earth movement insurance solutions, we’re here to help. Give Andergray Insurance a call today to get started.