Since 2005, there have been only five significant earthquakes in Southern Ontario, according to Natural Resources Canada. While that doesn't seem like very many, climatologists have predicted that there will be at least one severe earthquake felt in several parts of Ontario within the next fifty years. At Staebler Insurance, we believe in being prepared for the future, so we don't think it's out of the ordinary to speak to our clients about earthquake insurance in Waterloo for homes or businesses.
Earthquake insurance is typically an add-on for an existing homeowner's policy, since a standard home insurance policy in Ontario doesn't cover direct earthquake damage. In the case of an ignited gas main break, your home insurance would likely cover it, but earthquake insurance is what will directly cover damage to your property caused by the earth's shaking.
In the case of a business, your business interruption insurance would likely cover any damage caused by an earthquake. Business interruption insurance is so critical for business owners, because it allows you to continue operating as quickly as possible after a disaster with minimal financial loss or interruption in daily operations.
At Staebler Insurance, we believe in being prepared for the unexpected and the inevitable. Despite the current rarity of earthquakes in Ontario, we're still happy to guide you through earthquake insurance in Waterloo. No matter the questions about insurance, our brokers have answers!