3. You Don't Have to Be on a Fault Line
The hotspot for Earthquakes used to be California due to the major fault lines in the state. This is no longer the case. Just take a look
at Oklahoma, a state you wouldn't typically associate with earthquake activity.
Oklahoma and much of the Western United states have seen a major uptick in seismic activity due to hydraulic fracturing, also known as
fracking. In fact, Oklahoma recorded 541 tremors in 2014 (1.5 per day) and are on track for a projected 941 quakes (2.5 per day) in 2015
(source: US Geological Survey). And guess what? Their insurance policies don't cover earth movement, either.
By comparison, California only had a little over 200 seismic events in 2014. However, seismic activity in California tends to be more
destructive.
Seismic events due to fracking are difficult to predict, but the US Geological Survey, in conjunction with the California Geological Survey,
predicted in 2008 that California had a 99% chance of having a major earthquake higher than 6.7, and a 46% chance of an earthquake higher
than 7.5 in the next 30 years.
No one knows when or where the next quake might happen. The only thing you can know for sure is whether or not your business will be
adequately protected when it happens. Hayes Brokers can help with earthquake insurance coverage and provide information on mitigation
and other ways to save money when purchasing this valuable, necessary coverage.
