Is Earthquake Insurance Worth It in New Hampshire?
Most New Englanders view earthquakes as disasters that only affect the West Coast, and although the chances of an earthquake striking New Hampshire are relatively low, it’s important to understand that your normal homeowners insurance does not cover damage from an earthquake.
The few earthquakes that strike New Hampshire are typically deep below the ground and much weaker than the 3.1-magnitude quake that hit Boscawen in September 2010. Historically there have been no deaths or damage, with the exception of some broken dishes, so this area remains rather earthquake safe. It is interesting to note, however, that the National Seismic Hazard Map developed by the U.S. Geological Survey in 2008, indicates that New Hampshire has the highest earthquake hazard rating among the New England states. Zooming in on the map shows that the area above Concord has the highest hazard rating in the state.
What’s interesting about earthquakes in New England is unlike the fault lines in California, identifying the quake zones is not a simple matter. Historically, the “major” earthquakes in the region vary from Cape Ann, Massachusetts to Ossipee Lake, New Hampshire. It’s essentially anyone’s guess as to where a large earthquake could hit. According to research in this area, there is about a 2% chance that in any given 50-year period of time, potentially damaging earthquake vibrations will strike. Although the odds aren’t overly intimidating, it’s important to remember that your standard New Hampshire homeonwers, condominium, or renters insurance policy will not cover damage resulting from an earthquake. So, if you prefer to err on the side of caution, you may want to review your policy and ask for additional coverage. Earthquake insurance is an extremely affordable type of coverage, and is easy to obtain.
While the earth shaking is not a concern for most homeowners in New Hampshire, we receive all types of questions from people about homeowners insurance. Please note, we provide only general information in this blog as points to consider.
At Eaton & Berube we want to not only help you find the best insurance rates in New Hampshire, but also help protect your home, business, and personal safety. We realize that understanding insurance policies can be confusing, so we always recommend that you talk with our team of trusted insurance agents to ensure that you secure the right policy for your specific needs. For more information on how our team can help, please contact us at our Nashua office. To get a free quote for earthquake insurance in NH, please click below and submit our Online Insurance Quote Request Form.