How Earthquakes Can Help You Build Trust | InsuranceFiles

Jul 17, 2012

They say that the big one is coming. Sure, they have been saying this for years, but there have been many highly destructive earthquakes in the past few years, but the United States hasn't seen a devastating earthquake in a long time.

That does not mean that one isn't coming. And if incidents in other countries have shown us anything, enough impact has the potential to wreck an entire region.

Certain regions are more prone to earthquakes because of their geological location. This is especially true if a region is located on or near a fault line, as many parts of California do.

According to a bevy of geologists, there are predictions that a huge earthquake will hit California by 2037 causing unparalleled repercussions in terms of both damages and casualties. 2037 is a mere quarter of a century away, and the most frightening nuisance of this prediction is how vague it is. There is no way to know exactly when or how strong the earthquake will hit.

Of the entire world, California is one of the most seismically active areas, making it a hotspot for earthquakes. Naturally, houses in California are built with this in mind, but building codes can only take you so far.

California's last big earthquake in 1994 caused more than $25 billion in damages, according to the Associated Press.

With a track record like this, earthquake insurance is a must in California.

But earthquake insurance is a specialty product. As it is not covered in a standard home insurance policy, it must be sold separately. Unfortunately, many people assume that home insurance is an all-encompassing umbrella policy that covers everything that can go wrong in your home including earthquakes.

So it is each insurance agent's duty to inform their customers and potential customers of this fact.

Fortunately this proclamation is beneficial both agents and their customers.

One of the most difficult things to do with a new client is establish trust. Especially problematic in sales professions including insurance agents, customers tend to assume, at least initially, that sales people are looking to sell them something and do not necessarily have their best interests at heart.

However, by unveiling a misconception, agents can show their clients that they are interested in protecting their homes (in this case) and not just collecting premiums. And homeowners get the protection that they need for an impending disaster.

But agents have the additional benefit of being able to sell an earthquake insurance policy, earning them even more commission.

The only unfavorable part of this entire arrangement is that there might be a sizable and damaging earthquake in the near future. Otherwise, everybody wins.

Post by Tatyana Levin

Source: http://www.insurancefiles.com/blog/earthquake-insurance.html

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