Over Thanksgiving weekend, Oklahoma experienced several small earthquakes and aftershocks. While Oklahoma is no stranger to earthquakes, the seismic events caused major damage in some cities not fortified against such events. Governor Mary Fallin has submitted a formal request to FEMA asking for assistance. Governor Fallin is looking to have the federal agency declare the seismic events in the state an official disaster. If FEMA does declare a disaster, Oklahoma will gain access to federal funds to aid in recovery. According to state officials, more than 200 homes and other…
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What consumers should know about buying earthquake insurance
The number of earthquakes in states that are not known for tremors – such as the recent 5.6 point quake in Oklahoma and the earthquakes in Colorado and Virginia this summer – have underlined the fact that flooding, severe weather, and fires are not the only types of natural disaster that can cause damage to a home, no matter where you live. Though California is the state that is at the highest risk of earthquakes, and it is also long overdue for another major tremor, states that consider quakes to…
Read MoreOklahoma quake changes the way people think about insurance
Following the earthquake in Oklahoma many people have opened their eyes to the type of coverage that they do – and do not – have for their homes and belongings. What they’re discovering, far more often than not, is that their insurance coverage does not extend to the type of damage that would result from a quake. Typical renters’, homeowners’ and commercial insurance will not offer protection for a structure or the possessions it contains, should they be damaged in an earthquake. The residents of Oklahoma are asking questions about…
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