Quake Risk More Widespread Than Many People Think.

New York -- Everyone knows that homeowners in California face a significant earthquake risk, but few realize that earthquakes have been recorded in 39 states during the last 100 years. Moreover, damage from earthquakes has been inflicted in all 50 states, according to the Insurance Information Institute.

The institute says homeowners and business owners need to be better prepared for potential earthquake damage.

Each year, about 5,000 earthquakes occur in the United States alone, though most are small or happen in areas not widely populated. Many cannot even be detected except by seismic readings.

But with the population growing in seismically active areas and with many older buildings being vulnerable to damage, the institute believes that many people do not know that standard homeowners, renters and business insurance policies do not cover damage from earthquakes. Coverage is available, however, either in the form of an endorsement or through a separate policy for homeowners.

Unlike flood insurance, earthquake coverage is available from private insurance companies rather than from the government. The state of California also has an earthquake authority that is privately funded but publicly managed. The agency aims to make earthquake coverage more widely available and affordable in the Golden State.

Most ...