Colorado earthquakes and your Home Insurance

Recently in Colorado, we have been getting a lot more seismic activity. It seems like we have been getting a lot more earthquakes lately. So what does this mean for your homeowners insurance? Lets first take a look at recent incidents.

Latest notable earthquake activity

-Sept 16, 2011, located below the Colorado border.  3.8 magnitude.

-Sept 12th, 2011, location near Craig Colorado. 3.7 magnitude.

-Sept 11th, 2011, location near Kiowa Colorado. 3.9 magnitude.

-Aug 22, 2011, 9 miles outside of Trinidad, 5.3 magnitude.

Other notable older earthquakes

-1967, near Denver, Colorado. 5.3 magnitude.

-1973, northwest corner of Colorado, 5.7 magnitude.

Largest Earthquake in Colorado History

In 1882 the state experienced its largest earthquake, which occurred in now what is Rocky Mountain National Park. It read a 6.5 on the Rictor scale. By far the biggest earthquake in Colorado history.

What does this mean for your Homeowners insurance?

A standard homeowners insurance policy does not cover earthquakes. You must by a separate insurance policy, known as earthquake insurance. This policy would provide coverage for your dwelling and contents, if an earthquake were ever to occur.

Should I buy earthquake insurance with all this seismic activity lately in Colorado?

Event though we have had a lot of activity lately, I don’t think people should be out panicking about this. I believe by looking at the plates, the chances of a big enough earthquake to come along, in a high populated area is very unlikely.  My professional opinion is that buying earthquake insurance at this time is most likely unnecessary.  We have never had an earthquake that has caused a significant amount of property damage or has hurt or killed anyone in our Colorado history. This is something that could change down the road, depending on what happens.

If you are interested in purchasing Earthquake insurance, and feel there is a need for it, please contact us during or normal business hours.

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