Earthquake in SF Bay Area and what you need to know
- Bojie He
- Jul 20, 2019
- 2 min read
Recently, there are has been earthquake happening in Southern California that caused some attention, and soon after, a few smaller earthquakes took place East Bay, further east of Livermore, magnitude of 4.3. Most residence in the bay area didn't feel anything at all, it still raises a lot of future concern about future earthquake taking place in the area and what should we do about to protect ourselves and properties in case if it does happen.
Here I have put together some information about earthquake after my research and hopefully it will provide some helpful resource for you:
1. Determining the risk exposure of your real estate property when earthquake happens. First, understand the 2 earthquake fault lines and where they are at, the San Andreas and Hayward fault.
The big concerns as result of the earthquake are liquefaction and landslides. Here are resource for you to look at to determine your neighborhood's risk exposure of the above hazard:
Enter your home address to the following website and it will analyze the location http://myhazards.caloes.ca.gov/
More about Liquefactions:
2. One common inquire people make today is about Earthquake insurance. The fact is that only 10% of California homes have earthquake coverage due to its high premium (not uncommon to cost a few thousands per year) and high deductibles (about 15% of the home value).
Here is an online premium estimate tool: https://www.earthquakeauthority.com/California-Earthquake-Insurance-Policies/Earthquake-Insurance-Premium-Calculator
3. Causation of your property damage.
An earthquake can cause a various other bad things to happen to your property, for example, an earthquake can cause your house to catch fire and burn down; it can cause your pipe to burst and thus flood the house and so on. So your property maybe damaged not just due to earthquake directly. Find out from your Homeowner's policy to see what kind of risk handling method it is. Does it cover fire damage due to earthquake? There are details worth looking at to know exactly what's covered in your policy.
More about concurrent causation:
4. Some resource on how to prepare and protect your family and property.
Bojie He
eXp realty of California
bojieteam@gmail.com
408 786 7564
Comments