Earthquake Insurance

15 Should I Buy Earthquake Insurance? The questions below can help you decide whether or not to buy earthquake insurance for you and your family. Can I afford earthquake insurance? Use the Premium Calculator at www.earthquakeauthority.com to estimate your premium. Do I live where earthquakes are common? You may need to do some research about nearby fault lines and the type of soil in your area. Search for fault lines on the U.S. Geological Survey website at www.earthquake.USGS.gov . Do I have a high-risk house? A house is likely to have more damage if it is older, or built of brick or masonry, or has more than one story. Can I afford NOT to have earthquake insurance? After a big earthquake, could you afford to repair or rebuild your home? Can you afford to keep paying your mortgage and taxes while you rebuild? Won’t the government help me after a big earthquake? Maybe. The main form of federal disaster relief is the low-interest loan. You must show that you can repay the loan. Grants from the Federal Emergency Management Agency (FEMA) for emergency home repairs and temporary rent assistance are only for those who do not qualify for loans.