Virginia officials are urging residents to check their home insurance policies to ensure they have protection against earthquakes. The initiative comes as a new law takes effect, which will force insurance companies to disclose what their various policies do not offer coverage for. State officials are hoping that residents will be proactive in finding out what coverage they may lacking and take steps to rectify the problem before they fall victim to a devastating natural disaster. According to the State Corporation Commission’s Bureau of Insurance, many Virginia residents do not…
Read MoreTag: virginia earthquake insurance
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 MoreVirginia’s request for aid in wake of August earthquake is approved by FEMA
FEMA has approved a second request for aid coming from Virginia to help recover from a powerful earthquake that struck the state in August of this year. The 5.8-magnitude has caused more than $22 million in damage to date. Given the rarity of earthquakes in the Eastern U.S., few Virginia residents have adequate insurance coverage for such happenings. More than 1,404 homes have been damaged by the quake and the 40 aftershocks that shook the state in the following weeks. FEMA had initially denied the request for aid after insurers…
Read More