Exploring earthquake deductible buy down insurance for homeowners

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When it comes to safeguarding your home against the unpredictable nature of earthquakes, understanding the ins and outs of earthquake deductible buy-down insurance can be a game-changer. Nature’s beauty can often be matched by its formidable and intimidating power, especially in the case of earthquakes. While we can’t prevent them, we believe we can help you cushion the financial impact with something called an earthquake deductible buy down insurance.  


What is earthquake deductible buy down? 

At its core, an earthquake deductible buy down is like having a safety net for your safety net—your home insurance policy. Earthquake insurance is crucial, but the deductibles can often be dauntingly high, making it tough for many families to foot the bill when they need coverage the most. This is where a deductible buy down comes into play. It allows you to lower the deductible amount to a more manageable figure by slightly increasing your premium. 

Think of it this way: it’s a bit like upgrading your phone plan to get more data. You pay a little more each month to avoid the unpleasant surprise of extra charges when you’ve streamed one too many episodes of your favorite show. In the case of an earthquake deductible buy down, you’re paying a bit more today to avoid a potentially hefty bill after an earthquake. 


How does EQ buy down insurance work? 

Adding this provision to your policy is like customizing your home insurance coverage to best suit your lifestyle best. Here’s the breakdown: 

1. Reach out to us
Start by connecting with one of our knowledgeable Westland insurance advisors. Our team of advisors are here to guide you through the process with ease. 

2. Review your policy
We’ll take a good look at your existing coverage to ensure we find the best solution for you. A deductible buy down may not be necessary for everyone, so we’ll work with you to understand your unique needs. 

3. Choose your protection level
We’ll lay out all your options, and you can decide on the amount of coverage that suits your situation best. Remember, a higher level of protection means a slightly higher premium.

4. Change in premium
Once you’ve made your pick, we’ll adjust your premium. The amount might differ depending on the coverage levels you choose. 

5. Amend and confirm
We put it all in writing. This will include the details of your new lower deductible coverage, and we’ll go over it together to make sure you’re satisfied. 

6. All set
You’ll receive confirmation and updated policy documents detailing your coverage adjustments. Plus, if you’ve got any questions, we’re only a call or email away. 


Why consider earthquake deductible buy down? 

Understanding earthquake deductible buy-downs is not just about insuring your property; it’s about investing in peace of mind for you and your loved ones. The benefits of adding an earthquake deductible buy down include: 

  • Peace of mind: Sleep better knowing that you’re shielded from the financial aftershocks of an actual quake.
  • Flexibility: Tailor your coverage to your comfort level without sacrificing your savings.
  • Preparedness: Be proactive and ready for the unpredictable, just like you would be with emergency supplies.


Your next steps

If you’ve been nodding along, considering how this could give you a steadier footing when the ground shakes, it’s time to act. Reach out to our friendly team at Westland Insurance, and we’ll ensure you’re equipped with the facts and figures you need to make the right decision on earthquake deductible insurance and earthquake deductible buy down coverage specifically. It’s also crucial to prioritize earthquake preparedness. Explore valuable resources and preparedness plans on the Government of Canada website to ensure you’re well-equipped for any seismic event. While you’re here, check out our blog on earthquake safety

Curious about your options? Contact us today to learn more about how an earthquake deductible buy down, along with our other home insurance coverage can be part of your total peace-of-mind package. Ready to get started on your home insurance quote today? Click below to get started.


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