How your Oregon Earthquake Insurance Works
The last major earthquake event to hit the West Coast was the Northridge Quake of 1994, prior to that was the Lorma Prieta Quake of 1989. What Oregonians can learn from these earthquake events is that a loss due to earthquake is a very real exposure to think about. In Oregon it’s not a question of if an earthquake will strike but a question of when.
A loss due to earthquakes are excluded under a traditional home insurance policy, the only way to have protection from a loss due to an earthquake would be as an endorsement to your home insurance or separate earthquake insurance policy. The earthquake insurance endorsement or policy is going to cover physical loss to your home caused by an earthquake, which will also include land shock waves or tremors before, during or after a volcanic eruption.
As a homeowner you must assess these following questions:
How likely is an earthquake in Oregon?
How much damage would an earthquake inflict on you, your home and belongings?
How much can you afford to lose without having Oregon earthquake insurance or bolting your home to its foundation?
Learn more about Oregon Earthquake Insurance:
Oregon Earthquake History & Recorded Seismic Events
Oregon Earthquake Insurance Frequently Asked Questions
Earthquake Retrofit Requirements for Insurance
Oregon Earthquake Preparedness Resources & Links
Read more on the topic of Earthquake Insurance:
- Earthquake Insurance, Seismic Retrofit or Both?
- Know the Fine Print of Your Earthquake Insurance Policy
- Earthquake Insurance Claims | Learn Best Practices for filing Earthquake Insurance Claims
- Oregon Earthquake Safety & the Cascadia Megathrust
As an insurance broker I help individuals throughout Oregon and the Pacific Northwest manage risk.