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Posted: 6:34 a.m. Monday, Nov. 7, 2011

No earthquake insurance for you

Related

Earthquake zone in central Oklahoma photo
Photos of damage and buildings affected by the earthquake of Nov. 5, 2011 in Prague, Oklahoma

(Poll) Now that Oklahoma has had several earthquakes, will you add earthquake insurance?

Yes

52%

No

33%

I may just move

13%

By Rick Couri

  Unlike the soup Nazi from "Seinfeld" this time bad timing is to blame. After earthquakes began rattling the state over the weekend, a lot of Oklahomans made some quick calls to their insurance agents to see if they were covered in case of damage. The answer for most of them is, probably not. "The standard homeowner’s policy does not cover the peril of earthquake" I was told by Gary Stephenson from State Farm insurance. Gary says that you should check with your agent since there are different policies and different companies but the general thought is no.

Check the USGS site here to see the latest quakes.

When I asked some folks if their policies covered quakes, most said no. One man though, told me something interesting. "I asked my agent this morning and she said she didn't know about my policy but they slipped into a lot of policies because they found it lowered their premiums by doing that" he said. When I asked Gary if that was true he said "usually there is a slight overall increase with earthquake coverage." The good news is, the coverage is cheap but as of right now, you can't get it. "When there is a quake in an area over a 5.0 there is a moratorium on writing additional coverage for that general area for a 30 day period" Gary told me.

Check the links below for more information on policies and coverage and please vote on our poll before you leave the page!

State Farm Insurance

Farmers Insurance

Progressive Insurance

Allstate Insurance

Shelter Insurance

Prudential Insurance

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