A 5.8 magnitude earthquake struck the heart of Virginia Tuesday, sending ripples throughout much of the Eastern U.S. Tremors could be felt as far as 100 miles away from the quake’s epicenter in Mineral, Virginia. Residents of the East Coast, whom are unaccustomed to the ground beneath their feet shaking, flocked to Twitter and Facebook to document their experiences. Tremors reached New York City, causing mild panic among those that had never witnessed such an event. The quake took its toll in Virginia, but no inordinate amount of damage was…
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California fault line research reveals how far away earthquakes effect us
A United States Geological Survey (USGS) team has been working with researchers from Georgia Institute of Technology (GIT) to study what effect a large quake has in triggering smaller, slow moving tremors, deep along the San Andreas Fault line. It is possible that a sizeable quake far away could trigger episodes deep in the San Andreas Fault line. An earthquake is a vibration that travels through the earth’s crust. This is usually the result of movement in pieces of the earth’s surface, called tectonic plates. Other things can…
Read MoreCEA campaign to bring awareness to California residents who don’t have earthquake insurance
An insurance agent marketing program was launched by the California Earthquake Authority with a goal of selling 15,000 policies by August 1 of this year. The Marketing Value Program or MVP is set to improve the relationships between the insuring agents and the CEA such that residents from California will participate in the said program. Since 2008, the earthquake that happened in Christchurch, New Zealand is considered as the most expensive global insurance wherein estimated losses that are insured range from $3 to $12 billion. The same earthquake magnitude is…
Read MoreEarthquake insurance rates set to increase in certain areas
Spurred by news of recent earthquakes that rocked New Zealand and Chile, as well as tumblers felt in the United States, State Farm has been raising their rates for earthquake coverage. The recent wave of tremors in Arkansas has provoked the insurer to make the first significant raise in its rates in the state in 15 years. The premiums were unchanged from 1997-2007. Adjustments were made in 2008 and again in 2010, but were relatively minor. Spokesman for State Farm, Gary Stephenson, says that insurance premiums change all the time.…
Read MoreMissouri residents are underinsured
Missouri just held an event noting the 200 year anniversary for the New Madrid earthquake. John M. Huff, the acting director Missouri’s Department of Insurance, spoke at said event to help bring awareness to the weak number of homes that actually have earthquake insurance within the state. He has also has expressed in the past, that there’s a large percentage of homeowners that will not be accurately protected if an earthquake happens these days. Huff’s concern is, that over the past ten year’s the amount of earthquake policies purchased has sharply decreased and the ones that do have…
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