Planning for your recovery before an earthquake occurs
If a major earthquake happens, are you prepared?
Although Missouri may not immediately come to mind when thinking about earthquakes, a major fault line runs through the southeastern corner of the state. A study by the U.S. Geological Survey estimates the probability of a magnitude 7.5 or greater earthquake in the New Madrid zone over the next 50 years is 7-10 percent. The probability of an earthquake exceeding magnitude 6 over the same period is 25-40 percent. A joint assessment by the Mid-America Earthquake Center of the University of Illinois and the Federal Emergency Management Agency predicts the New Madrid event could constitute the highest total economic loss of any natural disaster in U.S. history.
No matter what type of disaster Missourians face, it is critical that every family has a plan for both readiness and financial recovery following that event. Whatever that plan may be, it’s important for consumers to know about what options they may have and what issues need to be considered to adequately prepare for an earthquake.
Are you ready? Do you have a plan? If not, you may want to explore the information provided to determine what you need in order to be prepared.
The Importance of Earthquake Insurance
Percentage of residences in the New Madrid area of Missouri with earthquake insurance.
U.S. Market for Earthquake Insurance
This information provided by the Missouri Department of Commerce and Insurance and the Missouri Insurance Education Foundation.