Major North American earthquake coming?

[MA Duce]

I'm pretty sure most insurance companies will not write earthquake coverage in the Pacific Northwest anymore. Can any agents on the board verify that?

I have an old friend who is an insurance agent, (and before the jokes start I knew him for years before he got into insurance), I was one of his first accounts and he has never steered me wrong. We spoke once years ago about adding earthquake coverage, and the cost amazed me. It nearly equaled my annual cost already, I passed. He explained that the potential loss to the industry in the event of a major quake was so great the thinking was they had to lay in a huge nest egg ahead of time.

 

[EZLivin]

...He explained that the potential loss to the industry in the event of a major quake was so great the thinking was they had to lay in a huge nest egg ahead of time.

I think the insurance companies have concluded this is one extremely risky policy to write (which should tell us something about the risk). I remember our State Farm agent telling us years ago that as a current customer carrying earthquake insurance we could continue to do so, but they were not writing new policies. Don't know about now, but that is what we were told a few years ago.

 

[Martini_Up]

Great... since this turned into an insurance thread, I'm picking up the Gecko and meeting that get-away driver from Heat at the bar. We heard the girl from Progressive was doing some pole dancing there.

 

[2506]

Yes you can, but it's costly. About $600 per year, when you're overall homeowner's is about $1,000.

 

[Scott]

Came across this and though I'd pass it along:

YouTube - Earthquake Prediction 2011 Jim Berkland - A Major Earthquake in North America Imminent

I hope so end of the world

 

[MA Duce]

I hope so end of the world

Not the whole world...just everything West of the Cascades.

 

[svxr8dr]

Not the whole world...just everything West of the Cascades.

Geez...can I at least get an island for my casa?

 

[The Cheese]

I am 98% sure my insurance agent told me were gtg on earthquake coverage. I will double check tomorrow and see what the limits and such are.

 

[EZLivin]

Coverage vs no coverage might also have to do with location, age, and construction materials.

 

[dolooper]

Coverage vs no coverage might also have to do with location, age, and construction materials.

I have coverage on two houses. One is originally built in 1911 but updated foundation later. There's a year before which they won't ensure (1978?). Kinda spendy and not everone will write it.

High deductible, too. 10% of replacement cost. I've been carrying it for about a dozen years and hope never to cash in, but I know where I live. I don't want to be sending in mortgage payments to a bank for a pile of rubble and another "low interest" mortgage to FEMA to rebuild.

 

[bgdawgrr]

My agent reminded me that I may not have earthquake insurance, but if the rubble of what was my house somehow burnt up, I am covered for fire.

 

[mjbskwim]

Bye Bye Cali, Arizona gonna have a new beach!

"learn to swim,learn to swim,learn to swim......"

I ain't skeered. But I did here the Canary Island ? volcanoes were acting up.
Hey that earthquake could have moved a lot of stuff around that isn't done moving yet.

They've been saying we'll have a big one for years,and that Mt St Hellens ain't done,and the Mt Rainier is gunna BLOW.
That should be your real concern.
St Hellens made a mess,what do you think Rainier will do?

BTW went to check on my upper,they said did we call? Maybe you were busy?
Not today but tuesday we sold everything you could think of.The store,a little store mind you,was busy for about 4 hours.

 

[MA Duce]

My agent reminded me that I may not have earthquake insurance, but if the rubble of what was my house somehow burnt up, I am covered for fire.

Excellent plan, IF you can prove the fire wasn't a result of the quake, so work up a good scenario.

 

[sandman1212]

I can see the logic in this, just waiting for it to happen. we should see if this guy is legit by the 26th.

 

[EZLivin]

...we should see if this guy is legit by the 26th.

Are you referring to Jim Berkland? If so, understand that Berkland only gives windows of time when seismic risks increase. He has been studying earthquakes for decades, and uses data from many sources. He is legit, and isn't afraid to think outside the box, but the most you will get are locations and periods of time when the risk of seismic events (major or minor) increase. So for March and April those of us on the west coast should be on heightened alert.

 

[lowly monk]

Check out "usgs" site, Real time data.

 

[matt_w]

I didn't post this as a "prediction", just a warning of increased probability.

Regarding earthquake insurance, I'd really only worry if I had a brick house. Wood-frame houses, especially single-story do pretty well in strong quakes.

Here is a link about the past cascadia subduction quake: <broken link removed>

And here is a scenario of one happening today, and its effects on the region: <broken link removed>

 

[ArgentineSteel]

People in the Northwest need to be aware. Yes 9.0's occur. So do Volcanoes. The Native Americans told tales of the Mountains warring, ie. multiple eruptions at once. St. Helens showed the potential. Rainer has a history of Pyroclastic flows and the end of the Kings Valley points right at Seattle. Puget Sound has a geological record of Tsumnami washing up both ends as the contents of the sound get sloshed around. Seattle has already had elevated roadways collapse due to earthquakes. Sister's Oregon has a Bulge as Magma moves under ground. Hood is active, but quiet. We have a dangerous record of geological events and historically we're overdue. Here's to hoping the Mountains stay quite and the oceans are filled with many minor quakes.

 

[MA Duce]

People in the Northwest need to be aware. Yes 9.0's occur. So do Volcanoes. The Native Americans told tales of the Mountains warring, ie. multiple eruptions at once. St. Helens showed the potential. Rainer has a history of Pyroclastic flows and the end of the Kings Valley points right at Seattle. Puget Sound has a geological record of Tsumnami washing up both ends as the contents of the sound get sloshed around. Seattle has already had elevated roadways collapse due to earthquakes. Sister's Oregon has a Bulge as Magma moves under ground. Hood is active, but quiet. We have a dangerous record of geological events and historically we're overdue. Here's to hoping the Mountains stay quite and the oceans are filled with many minor quakes.

The bulge you mentioned is not near Sisters, a small town in Central Oregon. The actual site is some 35 miles south in the Three Sisters Wilderness, on the southwest flank of the South Sister.

 

[ArmedAmish]

Not to dwell on the insurance policy thing too much, but I just checked our policy and it looks like we're covered ($600 endorsement on in addition to our $1200 policy).

Now to prepare to live after the big one...

Bryce