BLOUNTVILLE, Tenn. - You may not have as much coverage on your home as you think.
Many homeowner insurance policies do not cover most natural disasters; while earthquakes are not something you experience often in Tennessee or Virginia, after the recent tremor some insurance companies are encouraging people to buy more coverage.
We asked several people if they thought they would be covered in the event of an earthquake.
"Not that I'm aware of, unless it's on my policy. I haven't really checked," said Randy Grubb.
"I just never did think anything about it, because it never hit close to home, but it is now," said Sheila Long.
We spoke with an insurance sales representative at State Farm who said only a few people are covered. "It's a small percentage because it's not something built into the homeowners policy," said Corrina Reynard.
We learned the homeowners policy does not cover as much as some might think. "Basic homeowners policy would be any wind damage associated with tornadoes, hail damages, internal water damage," said Reynard.
However, Reynard tells News 5 things like earthquakes, sewer drain backup and floods are a few of the things not included without additional policies. "Pretty much bigger catastrophes, earthquakes are not very common in our area, so they don't build it into homeowners policies," said Reynard.
She tells us many do not think about it until after a disaster occurs.
Now that the earthquakes are coming closer to our area, it has some rethinking the idea. "I know a couple have stepped out since the risk is getting higher," said Reynard.
She says it is much better to be safe than sorry. "Everybody should definitely talk to their insurance agency about the coverage at least for advice," said Reynard.
We also learned that many insurance companies do not even offer earthquake insurance.
We called a few insurance companies and learned that the ones that do offer it offer it at a low cost, averaging around $100 a year.
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