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Property & Casualty Insurance/General Insurance coverage in event of a Earthquake.

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Question
General Insurance Policy.
General Insurance Poli  

Earthquake
Earthquake  
Dear Richard

http://en.wikipedia.org/wiki/General_insurance
http://en.wikipedia.org/wiki/Earthquake‎

Can Apartment / Bungalow property owners claim their Insurance on occurrence of earthquake ?.

Do General Insurance policies provided by Public or Private limited cos cover insurance coverage for natural disaster such as Earthquake ?.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

Answer
Dear Prashant:

My apologies, I was out doing continuing education and was not able to answer before.

In the USA and Puerto Rico, you may cover and recoup losses due to earthquake, as long as your personal or commercial policy does in fact cover and provide for earthquake coverage.  This is usually an optional coverage that has to be specifically requested.  You will notice you have the same if you take a look at your policy declarations more into detail.

Most policies will state a specific percentage of the property value as the deductible or insured's retention. So for example, if you property has a value of US$100,000. and the deductible is 5%, then you will have to assume the first US$5,000. of any loss you sustain.

In order for me to answer more specifically I would need more specific details. If you wish to consider the same, please contact me privately or directly.

I hope this information proves useful and if you have any questions or additional comments, please contact me at your convenience.

Thanks very much for the opportunity to be of assistance.  

Property & Casualty Insurance

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Richard L. Dunnam, CIC, AAI, AMIM, AINS

Expertise

Property and Casualty coverages and claims concerns. In either areas of personal or commercial insurance. In Spanish or English. Can provide solutions for concerns regarding coverage specific, services or general issues to the general public, claimants, insureds and for the insurance industry in whole, for the U.S. and/or Puerto Rico

Experience

English and Spanish fluent speaking professional with 28+ years of experience in following fields of insurance: commercial and personal lines underwriting, property and casualty claims adjuster, property and casualty insurance producer, insurance educational consultant approved by the Dept. of Insurance in Puerto Rico. Offer insurance continuing education and prep courses for insurance exams in Puerto Rico. Property and Casualty court expert witness for commercial and personal insurance. Real property insurance appraiser. Faculty member for the National Alliance for Insurance Education & Research, Certified Insurance Service Representative professional designation courses and Dynamics of Selling programs in Puerto Rico and the U.S.

Organizations
Faculty for Professional Insurance Agents of Puerto Rico & the Caribbean Faculty for National Alliance for Insurance Education and Research Faculty for Sales Management Executives (Puerto Rico)

Publications
Impacto Seguro ("Insurance Impact") - Puerto Rico insurance publication Agent and Broker - monthly publication

Education/Credentials
Pursued the following: BBA Business Management - IAU - San Juan, PR Associate in Marine Insurance Associate in General Insurance Accredited Insurance Advisor (AAI) Certified Insurance Counselor (CIC) Marshall & Swift Trained Appraiser Chartered Property and Casualty Underwriter (currently 9 of 10 approved)

Past/Present Clients
Antilles Insurance Co. Universal Insurance Co. CNA Casualty Puero Rico (Integrand Assurance Co.) Colonial Insurance Agency Multitransport Co. AVIS Rental (PR) Puerto Rico Government dependencies and municipalities

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