Tuesday, February 2, 2010

Please come a Callin’ before the ground starts a Rockin’!

Many people aren’t aware of one of the biggest risks to their assets, which is not covered under most home insurance policies. Earthquake is not covered under home insurance policies, but that coverage is available as add-on coverage.

Did you know that the Ottawa Valley is part of the Ottawa-Bonnechere Graben, a rift valley formed about 175 years ago when a huge block of land fell hundreds of meters between the Petawawa Fault and the Mattawa Fault?

Did you know that the faults are still active and occasionally release stress in the form of earthquakes?

So the risk is definitely there! If clients have considered the risk and decided not to purchase Earthquake insurance, and thereby have chosen to take on that risk themselves, then they are making an educated decision, but here are my concerns:
• Someone might think that they are covered in the event of an earthquake (which they ARE NOT unless they have specifically added earthquake insurance to their coverage) or
• Someone hasn’t even considered it, or
• Someone is not even aware that the coverage is available, or
• Someone thinks it is too expensive, without considering it.

Make the call before the ground starts shakin’ so you can make an educated decision.

For more information, take a look at recent press on Earthquakes in the Ottawa area, on the Ottawa Citizen: