Earthquakes have been in the news lately a result of the recent 6.0 earthquake near Napa, California that caused deaths, injuries and considerable damage to property. Earthquake is a phenomenon that occurs on almost a daily basis around the world. In fact, as I’m writing this article, a minor earthquake with a magnitude of 3.7 was reported in Chile and a moderate quake with a magnitude of 5.6 occurred near the Samoan Islands in the Pacific earlier today, according to world-earthquakes.com.
Michigan is not exempt from earthquakes. According to the United States Geological Survey's (USGS) Earthquake Hazards Program, Michigan experienced a 4.7 quake on August 10, 1947 centered southeast of Kalamazoo. Chimneys were damaged, windows and plaster were broken, and brick cornices were downed. It was felt in our surrounding states and in Ontario. Another quake centered in Michigan struck outside of Lansing in September 1994 with a magnitude of 3.5.
There have been several other earthquakes centered outside of Michigan that were felt here - the most recent was in April 2008 measuring 57. It was centered in southern Illinois.
Earthquake is one of two natural disasters that ARE NOT COVERED by standard insurance policies. The other, of course, is flood. While flood insurance must be purchased on a separate flood policy, coverage for earthquake can usually be added directly to a homeowner or business insurance policy. Even though damage caused by earthquake can be significant, premiums in Michigan are surprisingly low because we are not prone to frequent or serious quakes. Rates vary depending on the type of construction and the amount of coverage, and it can be purchased to cover the building (dwelling) and contents. Deductibles for earthquake insurance are usually a percentage of the loss rather than a specific dollar amount.
If you have questions about earthquake insurance, call us at 800-220-5582 or contact us online.
Image courtesy: Naypong / freedigitalphotos.net