03/16/10

Earthquake Insurance = Smart Investment

Oregon is among the states at highest risk for a major earthquake yet only about 20% of Oregonians have earthquake insurance.

Your standard homeowners policy will not cover you against earthquake but earthquake coverage is readily available and relatively inexpensive – often less than $300 a year for a $300,000 wood-frame home.  

January 26th marks the 310th anniversary of the last great earthquake to strike this area.  The 9.0 magnitude Cascadia Subduction Zone earthquake was centered 75 miles offshore and damaged coastline from Northern California to British Columbia.  A 10,000-year geologic record shows that mega-quakes occur every 300 – 600 years, putting Oregon within the window of a major earthquake.  

Consumers who wait to buy insurance until after a tremor will be too late:  Insurance companies typically suspend sales of earthquake insurance for a period of time after a local seismic event.  If you are interested in getting a quote for earthquake insurance on your home or business, call our office (503) 227-1771.