As Disasters Increase in Scope and Cost, Revisit Your Homeowner’s Coverage

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In 2017, the U.S. experienced one of the most disaster-filled years in history, with tens of thousands of people losing their homes and countless others temporarily displaced. The insurance industry is expecting the trend to continue, based on climate forecasts and the history of natural disasters and their costs over the past 10 years. The 2017 hurricane season was the costliest in the history of the U.S., resulting in countless windstorm and flood-damage claims from homeowners and businesses in affected parts of the country. The number and size of tornadoes has also been on the upswing. The tornado season in…
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Earthquake Risk Requires Smart Planning and Insurance

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Life in most of parts of California comes with the inherent risk that an earthquake can strike suddenly and without warning. You probably didn’t know that the state has more than 10,000 seismic events every year, but fortunately most of them are too small for people to even notice. Although the entire Northwest of the United States is at high risk of earthquakes, nine of the most costly quakes in the last century occurred in California. According to the U.S. Geological Survey, there is a 70% probability that an earthquake of magnitude 6.7 or larger will strike the San Francisco Bay…
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Sprinkler Damage from a Quake Can Prove a Costly Business: Protect Your Assets

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While you might expect cracks to the foundation of your business building during an earthquake, that is not the most common damage resulting from temblors in California. More typically, businesses may suffer property damage after a quake shakes a building enough to activate or damage indoor sprinklers, which in turn spray water, wreaking havoc on office fixtures, machinery and inventory. The resulting damage from water sprinkler damage can often far exceed the damage to the structure itself. Napa quake case study After the Napa earthquake in 2014, the Federal Emergency Management Agency studied 32 buildings with fire sprinkler systems and…
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