Earth quake insurance

Earth quake insurance

Did you feel the earthquake in Maine and New Hampshire last night? More importantly, do you have earth quake coverage? Probably not. Earthquake insurance coverage is not part of the homeowners insurance form. This needs to be added as an endorsement and it has a separate deductible. The deductible can range from 5%, 10%, 15% etc of the dwelling coverage. On average, the cost is under a $100. Call today 1-888-918-8044.

We do not want to be alarmists nor sell you something you don’t think you need – HOWEVER – Northern New England experienced an earthquake last evening (October 16, 2012) that registered a 4.0 on the Richter Scale. It was deemed to be “light”. Gratefully, no serious damage has been reported.

That said, unless you add earthquake coverage to your homeowners or business policies, it is not a covered peril. If you wish to discuss this coverage, please call your agent here at Clark Insurance 1-888-918-8044. Given its rarity in our region, it is affordable but carriers offer different options.

Though these events rarely occur in our region and have been mild in nature, the potential for severity may be greater than might be expected.

First, buildings in the region are not constructed with earthquakes in mind compared to those in California or Japan. Foundations, cellar floors and structures can be susceptible to damage.

Second, the geology in much of the region is composed of rigid granite and clay, neither of which respond well to seismic shifts. “Experts say the region’s geology can make the effects felt in an area up to 10 times larger than quakes of similar size on the West Coast” according to a Fox News story.

According to this news report, “Earthquakes are rare in New England but they’re not unheard of. In 2006 there was a series of earthquakes around Maine’s Acadia National Park, including one with a magnitude of 4.2 that caused boulders to fall from ledges onto Acadia National Park’s loop road. One of the park’s trails was closed for three years because of damage from the quake.

“The strongest earthquake recorded in Maine occurred in 1904 in the Eastport area, near the state’s eastern border with Canada, according the Weston Observatory at Boston College. With a magnitude estimated at 5.7 to 5.9, it damaged chimneys and brick walls and could be felt in Massachusetts and New Hampshire.

East Coast quakes are rarely strong enough to be felt over a wide area. A quake of magnitude 5.8 on Aug. 23, 2011, was centered in Virginia and felt all along the coast, including in New York City and Boston.

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