Want Oklahoma Earthquake Insurance? Get Ready To Wait

As Oklahomans clean up from the weekend earthquakes, anyone thinking about getting earthquake insurance will have to wait.

Insurance agents are telling homeowners it can't happen Monday, or even next week.

Most Oklahomans are finding they don't have earthquake insurance. It has to be added to your policy. And because the quake was bigger than a 5.0, they'll have to wait 30 days to get that piece of mind.

Tornados and hail storms are a given in Oklahoma. But earthquakes? Not since the 1980's. This insurance agent had so many calls from Oklahomans wanting earthquake coverage.

"Now it's at the top of everybody's mind," Michell Dallal said.

Like many people, Christy Grable was jolted from her sleep Saturday night when a 5.6 earthquake rattled her home.

"We had both kids sleeping with us and it was literally like bed knobs and broomsticks," Grable said.

After seeing how the quake impacted homes near the epicenter, she's worried about the next big one and doesn't want to be unprotected.

But most homeowners will have to wait 30 days before adding earthquake coverage. Premiums vary depending on how much your home is insured for. But agents said it is affordable.

"That will run you about $60 year," Dallal said.

Dallal said a full inspection may not be required, but to keep in mind, pre-existing cracks won't be covered. His best advice is to contact your agent.

On average it will cost a homeowner about $0.30 per thousand. So a $100,000 home would be $30 a year.

A deductible on the same house would be about $2,000. But depending on your insurance company, the deductible could be much higher.

Renters can also add quake coverage to their policy. It costs about $0.15 per thousand.

The average deductible is $250.