This is an\u00a0edited version\u00a0of an article\u00a0I wrote last year about Earthquakes….<\/p>\n
Almost weekly Californians experience small\u00a0Earthquakes that remind us of the reality of where we live.\u00a0 Yet 88% of Californians do not carry Earthquake Insurance. \u00a0This is particularly ironic considering our Home, for most or us, is our largest asset. \u00a0Buying auto, homeowners and life insurance is considered a normal part of our insurance portfolio, yet most of us consider it an acceptable risk to leave our largest asset unprotected from this inevitable peril.\u00a0 The USGS has predicted an 80% chance of a 6.0 or larger earthquake will hit northern California within the next 30 years, or for most of us, sometime in our lifetime. There is a 60% chance of that Earthquake happening in the Bay Area. It\u2019s not IF, but WHEN the big one will happen! And lo and behold, on August 24th, 2014, we had a 6.0 in Napa! But… Is that the one? After that 9.0 in Japan last year, this seems mild in comparison.<\/p>\n
Regardless, what would happen if a major Earthquake occurs and you do not have earthquake coverage? Many believe the government will assist those devastated by this eventuality. But Federal disaster relief has historically been to offer low interest SBA loans to eligible homeowner\u2019s and businesses, to repair or replace damaged property. This is additional debt that you will be adding to your current mortgage which you are still be responsible for. The maximum SBA personal property loan is $40,000 and the maximum SBA real property loan for primary home repair is $200,000. FEMA disaster grants are available to those who do not qualify for a loan, but the average grant is less than $15,000, and the maximum is $26,200. Would that rebuild your home in the Bay Area? It can be argued that it is even more important for those with less resources to invest in Earthquake Insurance.<\/p>\n
Along with your earthquake kit, (which should include camping gear, water, food and cash, all of which may be difficult to access if the big one hits); you should give strong consideration to adding an Earthquake policy to your Insurance portfolio. As recent events have served to remind us, we live in an area that has seen, and will see again, this type of calamity. \u00a0It\u2019s a wise investment in your peace of mind.<\/p>\n
From the California Eathquake Authority-03\/14\/2011<\/p>\n
The tragic tsunamis and Magnitude 8.9 earthquake that have struck Japan \u2013 the fifth largest quake in the world since 1900 \u2013 are a stark reminder that earthquakes can happen any time and it\u2019s essential to prepare, according to the California Earthquake Authority<\/span><\/a>. The CEA said it\u2019s also important to remember not just to prepare for the quake, but to also prepare for what happens after the shocks.<\/p>\n ARE YOU READY FOR THE BIG ONE! SF EXAMINER 4\/3\/11<\/p>\n If you can’t go home, you’ll need “go bags” with emergency supplies. Put one in your car, and leave one at work. \u00a0Here are some supplies the SF Dept of Emergency Management suggest you have in these bags:<\/p>\n Food & Water (as much as you can practically carry)<\/p>\n First Aid Kit<\/p>\n Portable radio (extra batteries0<\/p>\n Dust mask<\/p>\n Five Day supply of medications you take regularly<\/p>\n Cash – in small denominations<\/p>\n Toilet Paper<\/p>\n Change of Clothing<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" This is an\u00a0edited version\u00a0of an article\u00a0I wrote last year about Earthquakes…. Almost weekly Californians experience small\u00a0Earthquakes that remind us of the reality of where we live.\u00a0 Yet 88% of Californians do not carry Earthquake Insurance. \u00a0This is particularly ironic considering … Continue reading