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What is Earthquake Deductible Buy-Back Coverage?

Personal Insurance earthquake deductibles range from 5% – 20% depending on a number of factors such as location, building age, and insurer capacity. An earthquake deductible is charged based on a percentage of the total value of property and interruption coverages combined – not a percentage of the amount of damage caused. As such, your earthquake deductible is equal to that percentage of the total amount your property is insured for. For example, for a home valued at $500,000 to rebuild the earthquake deductible for all coverages will be $55,000 to $165,000. As global incidents rise, We are seeing more home insurers move towards a minimum earthquake deductible of 10%. Earthquake Deductible Buy-Back Coverage is designed to cover the amount of your deductible up to the limit chosen.

Why would I buy earthquake insurance if my deductible is so high?

One of the primary reasons to purchase insurance is to cover you for catastrophic events that result in losses that most individuals cannot financially sustain. As we’ve seen in other areas that have suffered damages from significant earthquakes, the financial impact of an earthquake can be devastating. For those persons with property that is not insured for earthquake, these events can be catastrophic and in some cases lead to bankruptcy or complete loss of use of their property.

How much does Personal Insurance Earthquake Deductible Buy-Back Coverage cost?

  • Coverage can cost as little as $20 a month. Coverage is based on limit required and the age of the building. Pricing list can be found below. Prices are subject to change. Contact our office for a formal quote.


Do I qualify for this coverage?

  • Most homes and condominiums qualify for coverage as long as you carry Earthquake coverage on your primary policy.
  • Each contract can only cover one location therefore, if you own multiple locations, you may need to purchase additional contracts

Why should I choose AC&D for my Personal Insurance needs?

At AC&D we work to recognize areas of potential risk and then offer our client’s affordable solutions. We are one of the first brokerages in Canada to offer this valuable coverage to protect you in the event of an earthquake. We also represent over 20 standard market insurance companies and over 100 insurance intermediaries, including coverholder agreements with Lloyd’s (of London). This means we can find you the best insurance value and the best prices. At AC&D we are committed to providing the highest standards of service. Contact our office today for a no obligation review or Request a Quote.

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