Tuesday, April 26, 2011

When The Ground Shakes, So Does Your Future

 Everyone now knows the statistics of the March 11th earthquake and tsunami that hit Japan. 9.0 on the Richter scale, 28,000 (and counting) people dead or missing and an estimated 143,000 buildings either destroyed or damaged. A price cannot be put on the loss of life, but the cost of the physical damage could be as high as $42 billion.
Could the death toll and damage have been reduced in some way? The simple answer is no. Even in a technologically advanced country like Japan, where earthquakes are a part of life, earthquake prediction remains an inexact science.  And if that is the situation in Japan, it’s much worse here in California.

Although the state is in an earthquake prone region, the small frequent tremors that are regularly felt act to desensitize people to the dangers they face – a small tremor and a few rattling windows never hurt anyone. The San Francisco earthquake of 1906 is history and the one in Northridge in 1994 is now an unpleasant memory.  Sure, a lot of us know that a major seismic event is predicted to happen in California in the next 30 years. Add this 30 years to the 17 since Northridge and you have something that could occur once is 50 years. This could explain why only 10% of homeowners in the state have earthquake insurance.

But the prediction is not that a major earthquake will hit after 30 years – it will happen within that period and it could be next week, next month or next year. And even a less severe occurrence that that which Japan experienced could destroy homes and futures. If you have not thought about earthquake insurance, now is the time to do so. State and federal disaster relief assistance is meant to help people ride out the crisis, not the help them rebuild and get back on their feet – only insurance can do that. At Allied Brokers we have been in the insurance business for over 50 years and we know insurance, including earthquake insurance. We can help you understand the potential risks and give you insurance options to enable you to repair or rebuild a home after an earthquake. Contact us and we’ll explain your options and the costs involved in clear and simple terms so that you can make the best decisions to protect your family and your future. Call 650-328-1000 or go to www.alliedbrokers.com to learn more.

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