My First Felt Earthquake

About 3 hours ago I had the first earthquake I ever felt. on the couch watching the news and a low rumble started -  the whole house shook.  The pictures on the wall shook.  The dishes rattled.I went outside and was quickly joined by all my neighbors.  One guy thought his … [Read more...]

Quake and Tsunami in Japan

The pictures are horrific. You cannot watch without shaking your head at the humanity.Standard Publishing put out an email blurb today on disasters. It included the following:"...While economic losses from the disaster will be huge, the particular nature of these events will make most of that loss uninsured. So far, estimates of insured loss range … [Read more...]

Earthquake Excluded & Other Stuff Is Too

Almost all property insurance policies exclude earthquake. Coverage is available almost everywhere in the US - either through standard or specialty insurers.What is not commonly discussed is that the earthquake exclusion is broader than just earthquakes.The following are excluded in the same breath:landslide, mudflow, sinkhole, mine subsidenceland … [Read more...]

Earthquake Insurance

1) Earthquake is not covered by standard property insurance policies.2) Earthquake insurance is available in every county in the US (its just more expensive in some places).3) Earthquake is the single most uninsured catastrophic exposure for most businesses.4) I don't understand why all businesses do not buy earthquake insurance. … [Read more...]

Earthquake is Not Covered!

The horrible events in Haiti means that many of my conversations with clients include questions about earthquake.Here is the short answer... Standard property insurance policies exclude earthquake. Home insurance excludes it and business property insurance excludes it.The following exclusion is from a commonly used business property insurance … [Read more...]

Earthquakes Not Covered

Missouri residents last week experienced a 5.2 magnitude earthquake that rattled windows and shook houses. Many are now trying to buy insurance but are finding that there's a waiting period for coverage. Several of the state's biggest earthquake insurers have imposed a 30-day moratorium on new policies - a not uncommon practice right after quake … [Read more...]