Will insurance companies pay for property damage suffered during an earthquake?

If you take out natural disaster insurance when taking out insurance, the insurance company will pay for property damage suffered in an earthquake.

Because earthquakes are also a risk, in personal insurance, the insurance company must compensate for the casualties of the insured caused by the earthquake. Because earthquakes are not exempted from liability in personal insurance, they must compensate. In the basic property insurance policy, earthquakes are exempt from liability, so the insurance company will not compensate for losses caused by earthquakes. However, in some special insurances, with the agreement of the parties concerned, earthquakes can be covered by the insurance liability scope, and the insurance company must compensate for the losses caused. However, insurance companies will provide coverage by raising insurance rates and other conditions. Under normal circumstances, insurance companies will not be liable for losses caused by earthquakes.

First analyze personal insurance.

According to Article 12 of the Insurance Law: Personal insurance is insurance with a person’s lifespan and body as the subject of insurance. In layman's terms, it means a guarantor. At present, domestic insurance almost always pays compensation for this kind of liability. There are mainly the following categories: accident insurance, critical illness insurance and life insurance.

Accident insurance: If the insured is injured in an earthquake and the medical expenses incurred, claims can be made with the medical invoice or social security settlement statement. Insurance companies pay compensation based on the compensation principle, that is, the amount of medical expenses paid by the insurance company does not exceed the actual medical expenses paid by the individual. If there is a hospitalization allowance, compensation will be based on the actual number of days of hospitalization as agreed in the contract (pay attention to whether there are deductible days and annual hospitalization days limits). If disability is caused, the corresponding disability insurance will be assessed and compensated according to the responsibilities stipulated in the terms. In the event of accidental death, the death insured amount will be paid directly.

Critical illness insurance: If a serious accident occurs, it may lead to some critical illness insurance liabilities, such as deep coma, severe brain injury, paralysis, loss of multiple limbs, blindness in both eyes, deafness in both ears, etc. responsibility. These critical illness liabilities are paid based on the insured amount. You only need to provide the corresponding medical records, diagnosis certificates, inspection reports, surgical records and other relevant medical records that can prove the accident, or appraisal reports.

Life insurance: If you are killed in an earthquake, the insured amount will be paid to the beneficiary according to the contract. Particular attention needs to be paid here to the issue of beneficiary distribution.

In an earthquake disaster, it is very likely that designated inheritance and statutory inheritance will coexist, which will involve the simultaneous use of the Insurance Law and the Succession Law.

Secondly, look at property insurance.

According to Article 12 of the Insurance Law: Property insurance is insurance with property and its related interests as the subject of insurance. In layman's terms, it means protecting things. Property damaged in an earthquake, especially personal houses, cars and other property, is usually not compensated. Property insurance usually excludes liability caused by earthquakes and tsunamis and the secondary disasters they cause.

Currently, China does not insure automobile insurance against losses caused by earthquakes and secondary disasters as special liability. Building facilities such as houses can be insured through special arrangements.