Earthquake insurance - Protect your assets and investments

Image : http://www.flickr.com

Earthquake Risk in United States

Although the West Coast and Alaska generally has the largest earthquake activity, there is the possibility of an earthquake almost anywhere in the U.S.. active regions in the Midwest are: 1) The New Madrid Seismic Zone in southeast Missouri, which has the potential to impact eight states: Alabama, Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee, and 2) The Wabash Long Valley Seismic ZoneIllinois Indiana border, the three states: Illinois, Indiana, Kentucky and have an impact. In the eastern U.S., is another active area of Charleston, South Carolina region.

Prediction of earthquakes in California and the Midwest

California has 99.7% probability for a moment magnitude Mw = 6.7 earthquake (Northridge as an event) in the next 30 years. The southern segment of the San Andreas Fault has the highest probability of generating suchEarthquake in Southern California with a 67% chance to hit Los Angeles, while the Hayward Fault is the most likely source of an earthquake in northern California with a 63% chance of hitting the San Francisco Bay Area. large earthquakes are less likely during the same period, 94%, 46% and 4.5% for Mw = 7.0, 7.5 and 8.0, respectively. On the other hand, the probability of an earthquake in New Madrid Mw = 6.0 or higher occurring in the next 50 years, 25-40%, while repeating1811-1812 earthquake of Mw = 7.7 is 7-10% after the United States Geological Survey. Most structures in the Midwest were not built to withstand earthquakes of intensity. Furthermore, awareness of earthquake preparation are in the Midwest fell to the West Coast compared.

What happens if your house is destroyed or partially damaged?

Many mistakenly believe that the government take care of the United States, all their financial needs to consider when Who suffer losses in an earthquake that is not true. In fact, the federal disaster relief program are designed to help you, in part, on our feet again, but not replace everything you lose. Meanwhile, homeowners insurance does not apply to damages caused by the earthquake at home and possessions. Therefore, most of the damage is caused by an earthquake, the end is handled and paid by you. Furthermore, you are responsible for the remaining debts such as mortgages,> Auto Loans and credit cards, even if your home is destroyed or partially damaged.

How to protect your assets and investments?

If you own your home is probably your biggest financial asset. They are hard on your piece of American dream had become a safe home owners. Your assets and investments in the personal effects taken to represent the risk that an earthquake will strike like your home probably a certain amount of damage. How will youProtection of these assets and investments from the cost of destructive earthquake? Earthquake preparedness plans that your home adaptation and mitigation of its contents are included effective ways to protect against earthquake damage. Another option for the management of the potential costs to purchase earthquake insurance.

Earthquake insurance

Earthquake insurance provides cover for the movement of earth that can destroy your personal, business andAssets. Coverage for other kinds of damage can be the result of earthquake, fire and water damage from bursting gas and water supply systems, policy is made available from a standard home and business insurance. In other part, are cars and other vehicles insured for earthquake damage, only under the comprehensive auto insurance. The states of California, Washington, Missouri, Tennessee, Oregon, Illinois, New York, Kentucky, Florida, andIndiana are the top 10 of the largest earthquake insurance markets. Earthquake insurance premiums are different places, insurance companies and construction materials for your home. Older buildings cost more assurance that the new ones. The wood-frame structures benefit from lower prices than non-reinforced masonry, as tend to resist seismic forces better. A wooden frame house in the northwest Pacific will cost U.S. $ 1-3 for $ 1,000 worth of coverage, but lessto 0.50, on the east coast, while a non-reinforced masonry house costs $ 3-15 for every $ 1,000 in the northwest Pacific, but $ 0,60-0,90 in New York.

Do you need earthquake insurance?

A wise decision on earthquake insurance is essential if you live in a seismically active region. My family and I survived the 1995 Kobe earthquake, because I live in a relatively new concrete house, even if the rent was higher than that of traditional decisionJapanese wooden houses. The three-storey main building remained after the earthquake, except for an extension, which partly collapsed, while many of the surrounding traditional houses collapsed completely. However, the content also the home refrigerator, a microwave were damaged and a large television. The answers to these questions may help you decide if earthquake insurance is right for you:

Do you know the danger plausible earthquake to your house?
Ascost, repair / rebuild your home?
You can pay the mortgage payments the same and repair / rebuild your home?
Can afford to lose home equity?
What would be good to replace your household expensive (the cost of furniture, computers, HDTV, refrigerators, destroyed, etc.) when?
How would the costs of temporary residence if you can not live at home after the earthquake?

Interesting Facts About Earthquake Insurance

Thissurprising to learn that only 12% of California residents currently have earthquake insurance coverage of 33% in 1996, the devastating earthquake in Northridge in 1994 was still fresh in the minds of men. On the other hand, Missouri, 35% of homes have earthquake insurance coverage as the most reasonable.

Conclusion

On 09 January 2010, the mighty Mw = 6.5 Offshore Northern California earthquake caused moderate damage toCity of Eureka in Humboldt County and elsewhere. A few days later, January 12, 2010 suggested that a catastrophic earthquake measuring 7.0 Haiti, one of the deadliest earthquakes in the past four decades. These earthquakes are the people who live in Wake reconsider new active seismic regions upgrade their homes and control of content and their families to protect, develop, update or maintain their own earthquake preparedness plans, andearthquake insurance against future earthquakes reconsider manage the potential costs of the inevitable.

Visit : Ferret Mesothelioma attorneys Purchase Structured Settlements