On Tuesday, 10/16/12, an earthquake hit the Northeast. The epicenter was in southeast Maine, but the effects of the 4.0 magnitude earthquake were felt into Massachusetts and Connecticut. Fortunately, the damage from the earthquake was minor, but it begs the question: “is earthquake insurance now a necessity?”.
Many reports show that the east coast could not sustain a high magnitude earthquake do to the age of the buildings. Experts say that many buildings on the east coast were built – unlike the west coast – with un-reinforced brick, stone or masonry, which could not withstand a high magnitude earthquake. Such an event would be devastating, especially in urban areas with high concentration of masonry. Places like Back Bay, Boston come to mind as areas that could be at risk.
As your Risk Advisor, Deland, Gibson encourages you to know your policy. If you have any questions on if you have it, how you can purchase it, please call (781.237.1515) or email Deland, Gibson Insurance for more information.