The NJ Earthquake: Answers To Clients’ Insurance Questions
A magnitude 4.8 earthquake centered west of Manhattan struck the northeastern U.S. this morning. We at Big I New York hope that all of you, your families, friends, and clients are safe and suffered no injuries. However, it is possible that some of your clients suffered property damage. Your phones may ring with calls asking whether homeowners and commercial property insurance covers the damage. Here is what you and they need to know:Standard homeowners and commercial property insurance policies typically do not insure against damage caused by earthquakes or other types of earth movement. The ISO Homeowners 3 – Special Form states that the insurer…