Earthquake Insurance coverage is not sold as a “stand-alone” policy, it is always sold as an Insurance Rider attached to a Homeowner policy. Most ordinary Homeowners Insurance policies do not cover loss due to an earthquake. Earthquake Insurance is a form of property insurance that covers damage to property due an earthquake. Most earthquake insurance policies feature a high deductible, which makes this type of insurance useful if the entire home is destroyed, but not useful if the home is merely damaged. Rates depend on location and what the home is made of (homes made of wood withstand earthquakes better than homes made of brick). The Earthquake Insurance policy generally carries a five percent deductible, which is applied only once every seven days (California has a 10% deductible).