When buying a home in Japan you may want to consider earthquake insurance. As at the end of 2016, approximately 30% of Japanese households had earthquake insurance. Insurance premiums will vary depending on (1) the location of the property and (2) the type of construction, while payouts will vary depending on the level of damage.
Payouts are between 30 ~ 50% of the insured value of the fire insurance policy, and cannot exceed 50 million Yen (approx. 440,000 USD) for the property and 10 million Yen (approx. 88,000 USD) for contents. For example, if the fire insurance coverage is 20 million Yen, the earthquake insurance coverage will be between 6 ~ 10 million Yen.
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