Earthquake insurance provides coverage for direct damage from earthquake and volcanic eruption. This coverage is normally an endorsement to the standard property policy, which excludes earthquake. Earthquake coverage normally excludes losses resulting from fire, explosion, flood, or tidal wave (even if the tidal wave is caused by an earthquake).
***
Insurance covering damage caused by an earthquake as defined in the contract.
Insurance Encyclopedia
Earthquake insurance (Property Insurance)
Insurance that covers loss of property or damage due to an earthquake.
Earthquake Shock Cover
Covers loss or damage (other than loss or damage by Fire) caused by Earthquake.
Earthquake zone
See: Earthquake.
Earthquake/earthquake insurance
Natural phenomenon in the form of a violent convulsion of the earth’s surface. The risks of earthquake and subterranean fire (fire of volcanic origin) are excluded from the standard fire policy. High risk areas are designated as ‘earthquake zones’. Earthquake cover can be obtained for either fire damage or earthquake shock damage as an additional peril. Subterranean fire can also be insured in this way. The risk is sometimes securitised as a catastrophe bond.
Easement
An interest in land owned by another that entitles its holder to specific uses.
Easement (Property Insurance)
A right to make use of land belonging to another person.