To buy or not to buy earthquake insurance? After the earthquakes in Japan and Haiti, that question is on the front burner again. It's hard to ignore that gnawing feeling in your gut that not having this insurance policy could mean big problems in the event of a Big One.
Many homeowner's, however, still hold off on purchasing insurance; in California, only 12 percent of owners with homeowner's insurance policies also have earthquake coverage. Why? Denial, for one. And cost, for another. Depending on the coverage options you choose, earthquake insurance will cover the cost of your damaged home and any assets that are damaged on your property.