Kansas earthquake insurance demand is on the rise

Kansas earthquake insurance

The recent 4.8 magnitude quake in the state is becoming an increasingly common event where it was once rare. Insurers and agencies in Kansas are reporting that they have been receiving a flood of inquiries with regards to earthquake insurance coverage, following last week’s tremor that was measured at 4.8 on the Richter scale. Traditionally, this has not been a state in which there has been all that much interest in that form of insurance policy. Employees of insurance offices, particularly in the Wichita area, have been reporting that they…

Read More

Insurance industry may see more losses due to earthquakes

Oklahoma earthquake insurance coverage

New report highlights the growing risks associated with earthquakes The Insurance Information Institute has released a report predicting that losses associated with earthquakes will continue to rise in the U.S. There are many factors contributing to growing losses, including a higher degree of urban development in areas of the country that are seismically active. Older buildings are also exposed to earthquake damage due to the fact that they do not comply with current building codes. This factors are driving up the financial burden that earthquakes represent for the insurance industry.…

Read More

Earthquake insurance premiums fall for some California customers

Earthquake Insurance

Some consumers in the state will find that rates are dropping so that the coverage is more affordable. Two major earthquake insurance companies in California have just announced that they will be lowering the rates that they charge for the coverage against tremors in the state. The approval was given to the insurers by the commissioner of the state on Friday. The commissioner in California, Dave Jones, made his announcement on Friday, which said that he had approved a rate reduction of 15 percent for earthquake insurance policies provided by…

Read More