Earthquake insurance may soon be more important than many Californians realize

sink hole earthquake insurance

A new scientific report has shown that the state will nearly definitely be hit by a massive quake inside three decades.

The results of a new U.S. Geological Survey are now showing that earthquake insurance could become one of the most important investments that the residents of California can purchase in order to protect themselves.

The scientific report has shown that before 30 years have passed, the state will see a mega-quake almost definitely.

The industry has been warning about the importance of earthquake insurance, particularly areas along the San Andreas fault, but now this new study has underscored this cautioning with serious scientific evidence. The quake will likely be of a magnitude of 8 or higher. That is notably higher than previous predictions that had previously seen. The reason is that it is now believed that more than one fault will likely move at one time.

This type of evidence should encourage people o speak with their insurance agents about earthquake insurance.

sink hole earthquake insuranceTo put things more clearly, the United States Geological Survey has stated that there is a 95 percent chance that Northern California will experience one of these extreme level earthquakes. In the southern part of the state, that risk is minutely lower, at 93 percent. While there are no guarantees that the survey’s predictions will be correct, it should open the eyes of many people to the type of risk that they could be facing within their lifetimes, and that their homeowners insurance coverage may not be enough to compensate them if disaster should strike.

As a whole, the study showed that there is a risk that is greater than 99 percent that the state will experience a powerful earthquake within thirty years or less. According to Net Field, the lead author of the report, and a geophysicist for the U.S. Geological Survey, “California is earthquake country, and residents should live every day like it could be the day of a big one.”

Earthquake insurance coverage is not automatically included in standard homeowners insurance. With this type of news making headlines, it is highly expected that insurers and agents will soon be hearing from waves of consumers who will be looking into whether or not they should be purchasing this expensive, but potentially very worthwhile additional protection.

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