As a former claims handler and fraud investigator, hes seen a lot, and enjoys helping others navigate the complexities and opaqueness of insurance. Week of March 5: 1) Role of Federal and State Government in Earthquake Hazard Mitigation. Water supply systems, such as wells, irrigation systems, sprinkler systems and water reclamation systems, Underground structures or equipment outside the foundation wall of the dwelling, such as underground pipes, cables, flues and drains, Bulkheads, piers, wharves and retaining walls, Exterior masonry veneer, walls and fences, Personal property located outside of the dwelling, Landscaping, trees, shrubs, lawns or plants, Data (stored electronically or on physical records, like paper or accounting books), Trailers designed for use with a motor vehicle, Decorative items or works of art, such as murals, sculptures, fountains, aquariums, stained or leaded glass, mirrors, and chandeliers, Property of tenants, roomers or boarders not related to you, Any business property or property rented to others, Personal property in any other dwelling owned, rented or occupied by you, Fire (however, fire damage may be covered by your homeowners insurance), Earth movement from a non-seismic event, such as sinking, rising, expanding or contracting of earth because of the increase or decrease in the moisture content of the soil, Water damage such as flood water, tidal water or an overflow of a body of water, Water damage which backs up through sewers or drains, Water below the surface of the ground, including seepage or flows from any part of a building or other structure, sidewalk, driveway or swimming pool, Neglect (meaning you didnt take reasonable steps to protect your property), Nuclear action, including radiation or discharge of a nuclear weapon, even if accidental, War (declared or undeclared), civil war, insurrection, rebellion or revolution, Smog, rust, corrosion, mold, wet or dry rot, settling and animals, Defect, weakness, inadequacy, fault or unsoundness, including planning, zoning, development, design, workmanship, construction, materials and maintenance, Enforcement to repair or demolish a building or structure to comply with local building codes, Discharge, release or escape of pollutants, Theft, burglary, looting, vandalism and malicious mischief. Visit Ready.gov to learn how to prepare your finances for disasters like earthquakes. Your share of the cost of a covered services (in addition to co-pays), calculated as a percentage of the service cost. The exact cost depends on the amount of coverage, deductible, homes risk and other factors. We'd love to hear from you, please enter your comments. The maximum amount of coverage you can buy will depend on your insurance company, but keep an eye on the coverage limits. This is a hybrid elevation model which is compiled from 10 meter and 30 meter DEMs. Here are some helpful tips on how to prepare for an earthquake from the California Earthquake Authority. This map uses bedrock PGA values from the model developed by USGS for a specific secnario of Cascadia subduction earthquake ground shaking in the Pacific Northwest (http://earthquake.usgs.gov/eqcenter/shakemap/global/shake/Casc9.0_expanded_se/) combined with a new map of NEHRP site class for Oregon (Madin and Burns 2013) and uses the soil factor relationships of Boore and Atkinson (2008) to calculate site-dependent PGA. Oregon HazVu CLiP and the Geomatics research group are not responsible for errors or omissions in information provided on this website. Jason Metz is a writer who has worked in the insurance industry since 2007. Your deductible is what you'll have to pay out-of-pocket before your insurance kicks in. They thought if anyone found out about it that it would be bad for business. Emergency and disaster guides made convenient and customizable. 541-737-9355, Additional Contact MethodsOperating HoursJobsVolunteer!Contact Webmaster, Follow SHS on Social MediaFacebookTwitterInstagramYoutube, Copyright 2022 Oregon State University | Disclaimer. But before you take out a policy, make sure you read it closely. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. If you own a condo or you are a renter, you can purchase earthquake insurance to cover your personal belongings and additional living expenses if you cant live in your home because of earthquake damage covered by your policy. Since many homeowners biggest investment is their home, earthquake insurance may help protect that investment. A Policygenius agent can help you find homeowners insurance companies that offer earthquake coverage. It shouldn't be incorporated in building plans without verification. Kara McGinley is a former senior editor and licensed home insurance expert at Policygenius, where she specialized in homeowners and renters insurance. In percent. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. On top of providing coverage for loss due to earthquake the comprehensive portion of an auto policy will also provides coverage for losses that would include the following: loss caused by missiles or falling objects; fire; theft or larceny; explosion; windstorm, hail, water, or flood; malicious mischief or vandalism; riot or civil commotion; contact with bird or animal; or breakage of glass. One or more earthquake shocks that occur within a seventy-two hour period shall constitute a single earthquake. This definition was taken from a Safeco Earthquake Insurance Policy. (how to identify a Oregon.gov website) Just type in a location in the search bar at the top right and wait for the assessment to pop up (you may have to wait a couple of minutes). As an insurance broker I help individuals throughout Oregon and the Pacific Northwest manage risk. So, buy earthquake insurance before an earthquake. Below is what earthquake insurance does and does not cover. 2023 Advance Local Media LLC. Do we want to wait for our roof to literally fall in before we get ready?". Missouris New Madrid area is a lesson in what skyrocketing premiums can do to the insurance market. It's time to get ready. Cars are not covered under home owner or earthquake insurance policies. Premiums vary from state to state, depending on statistical and risk-assessment factors. The City of Portland is the only jurisdiction in Oregon that has adopted specific, prescriptive standards for earthquake retrofitting. Most homeowner, mobile home, condominium, and renter insurance policies do not cover earthquake damage. Your Oregon earthquake insurance deductible works as a stated percentage which is anywhere from 10% 25% this contrasts to a standard home insurance policy which generally has a dollar amount such as $500 or $1,00 for claims such as fire and theft. Performance information may have changed since the time of publication. Learn more about how we use and vet external sources as part of our, Senior Editor & Licensed Home Insurance Expert. Editorial Note: We earn a commission from partner links on Forbes Advisor. Many people find earthquake insurance to be pricey, especially considering the high deductibles that theyd have to cover anyway. That was an increase from 15% only two years earlier. This is a parameter which depicts the land level change in a Cascadia subduction earthquake event. By Kara McGinley Expert reviewed By Ian Bloom, CFP, RLP Updated October 12, 2022 | 3 min read Policygenius content follows strict guidelines for editorial accuracy and integrity. The drillhole feature class participates in two one-to-many relationship classes with tables of downhole geologic interpretations (PDX_NEHRP_interpretations) and shear-wave velocity measurements (PDX_NEHRP_Vs) using the key field "LOG_ID_concatenated". A magnitude 9 quake has a 10% to 15% chance of occurring in that period, he said. Resources and information related to volunteer service. This is a database of transmission lines in the U.S. provided by the Department of Homeland Security. Call your insurance agent to ask about coverage and file a claim. Site peak ground velocity, in centimeters per second. Editor's note: This is a revised version of the press release. Please try again later. This is a compilation of all ODOT highway networks. googleplay.png Extended Replacement Cost Coverage: This is designed to cover rebuilding your home based on the declared value on your policy with an additional 25% 50% cushion to protect you if there is an increase in labor and building materials. Here is a California Earthquake Authority insurance premium calculator. If I have to vacate my home, will earthquake insurance cover the hotel expenses? A .gov website belongs to an official government organization in the UnitedStates. Standard homeowners insurance does not cover damage resulting from land movement or landslides. Published in a open file report (OSSPAC,2013) by Oregon Department of Geology and Mineral Industries (DOGAMI). One exception is if an earthquake sparks a fire that burns your house. Researchers believe that the last great earthquake on the Cascadia subduction zone hit the Pacific Northwest on a wintry night in the year 1700. Standard homeowners insurance doesnt cover earthquake damage. The cost of your earthquake insurance is going to vary greatly depending on the age of your home, its location, its build, and more. Check with your homeowners insurance company to learn if they offer standalone policies or earthquake coverage endorsements. There are typically a lot of exclusions and limits on coverage, which should give you pause. Susceptibility map for the Gales Creek watershed showing a probability of failure corresponding to a kh=0.1, m=0.25 and cr=8. Does earthquake coverage exclude certain property and is breakage of fragile articles covered if I purchase earthquake insurance? CORVALLIS, Ore. - New research shows that a big earthquake can not only cause other quakes, but large ones, and on the opposite side of the Earth. This is a database of natural gas service territories in the U.S. provided by the Department of Homeland Security. Demand and support public policy that requires building codes be followed strictly for earthquake damage prevention, and also that seismic maps be given more consideration in the allowed siting of new structures. This map uses the methods of section 4.2.2.1 of the HAZUS-MH MR4 (FEMA, 2011 in references) to create a new coseismic liquefaction lateral spread permanent ground deformation (PGD) map for Oregon. Keep in mind that home insurance wont cover earthquake damage. Lessons learned from the aftermath of disasters have revealed, time and again, that you can effectively manage risk and recover faster after a disaster if you have insurance. If your quake damage amount is less than your deductible, insurance wont pay out. How much does earthquake insurance cost and does it cost more if I own a masonry/brick home other than an a frame home for earthquake insurance? If earthquake damage to your home is so severe that you must move out, coverage for additional living expenses is available only if you have earthquake coverage. Take control of your financial future and download the Earthquakes Can Drain Your Bank Account infographic. Lets use the same coverage example as above. Published in a open file report (OSSPAC,2013) by Oregon Department of Geology and Mineral Industries (DOGAMI). Along with his latest book, Yeats is also the author of "Living With Earthquakes in the Pacific Northwest." Oregon State University This dataset is shapefile representing the areas which will be inundated in a Large (L1) tsunami scenario for Oregon coast. A higher deductible may qualify you for discounts. Past performance is not indicative of future results. This is a complete, digitally compiled, general geology file with a vector polygon format from the Oregon Geologic Data Compilation by DOGAMI. This might include: If you live in California, state law requires insurance companies to offer earthquake insurance when you purchase homeowners insurance. The preferred browser for O-HELP is Google Chrome. Learn more about how to decide on earthquake insurance. The SA01 values are then converted into PGV values. Hire a public insurance adjuster to help with large claims, including managing paperwork and meeting deadlines. This is a database of wind turbines in the state of Oregon. Keep in mind, you may be able to purchase a policy that covers commonly excluded items. Prepare your own home for an earthquake, using basic and often inexpensive steps that are outlined in his new book as well as free publications about earthquake preparation. Site peak ground acceleration, in g (standard gravity). Earthquake insurance offers coverage for your home and belongings if they are damaged or destroyed in an earthquake. 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