Missouri earthquake insurance market is getting very shaky

Missouri earthquake insurance - US Flag, Missouri Flag, Jefferson National

The state D.O.I. published a new report showing the lack of high-magnitude tremor readiness. A new Missouri earthquake insurance report was recently published by the state’s Department of Insurance (D.O.I.), highlighting some troubling details about the market there. The “Earthquake Insurance Market Report” showed a lack of preparedness in the event of a large quake. The Missouri earthquake insurance report revealed some troubling facts about the readiness of the state’s market to recover if a high magnitude quake should occur. This is particularly worrying as the southeast of the state…

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Earthquake insurance rates head sky-high in parts of California

Earthquake insurance rates - Graph

As Californians rocked by the recent quakes seek coverage, they’re finding sky-high premiums. Across California, consumers have been watching earthquake insurance rates increasing. The reason is that the latest premiums calculations include forecasts of how large future quakes will be and where the worst ones will strike. This is terrible news for many people who were looking to renew or purchase policies. Current predictions suggest that about 250,000 current policyholders will experience increased earthquake insurance rates. Many of the property owners in Southern California may see their premiums increase by…

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Nevada earthquake insurance is rare despite state’s risk level

Nevada Earthquake Insurance - Earthquake Damage to Home

Seismic activity levels in the state would justify purchasing coverage, but most homeowners don’t. Nevada earthquake insurance has been placed in the spotlight following the tremors in California last week. Those quakes were felt in Las Vegas on Thursday and Friday. They are a reminder that the state is also affected by the seismic activity in the region. Still, despite the activity in the area and the risk of damage, coverage isn’t a common purchase. Following the quakes last week, it became clear to many home and business owners that…

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What does California earthquake insurance coverage provide following a disaster

California earthquake insurance coverage - House after earthquake

Following the tremors last Thursday and Friday, many residents are looking into the protection available. The importance of California earthquake insurance coverage was placed in the spotlight last Thursday and Friday. The 6.4 magnitude quake was the strongest to rock Southern California in two decades and was followed by a 7.1 magnitude quake the next day. The tremors shook homes and other buildings across hundreds of miles in the state. Independence Day came with a number of different catastrophe risks, particularly with the number of tornadoes that have been cutting…

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Will California earthquake insurance sales rise after The Great Shake Out?

California Earthquake Insurance - Damaged Home from Earthquake

Californians recently took part in an annual statewide event to boost preparedness for a quake. State officials are hoping California earthquake insurance sales will increase following a recent annual event. The Great Shake Out reminds Californians of the risk of a quake and the importance of preparedness. Despite the risk to residents of the state, only a small percentage have coverage against this peril. The Great Shake Out encourages people to check their supplies and practice safety drills in case of a quake. It also urges people to go over…

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Earthquake insurance and preparedness low in Israel, despite risk

Earthquake Insurance - Earthquake aftermath - disaster - house collapse

The region typically experiences large quakes every 80 to 100 years and is now coming due. In Israel, preparedness and earthquake insurance to protect against a major quake remains too low. The State Comptroller, Yosef Shapira has now issued a warning to the country that preparedness is entirely inadequate. This is a serious problem as the country is now considered to be due for a major earthquake. Earthquake insurance coverage is only one of many steps residents and businesses could take to protect themselves. Over the last week or so,…

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California earthquake insurance sales skyrocketed last year

Los Angeles California Earthquake Insurance

Californians have been warned for many years, but 2017 seemed to be the year to take action. Scientists have been cautioning homeowners to buy California earthquake insurance for decades. They have been warning that there is a major tremor overdue in the state. However, many Californians have balked at the thought of buying, afraid premiums would be too high. California earthquake insurance, despite the threat of a serious potential quake, has been a very tough sell for insurers and agents. Only about 10 percent of households in the state had…

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