If you are like most New Yorkers, an earthquake striking Manhattan is a remote thought at best. Two recent earthquakes in Somerset County, New Jersey, however, underscore the potentially damaging effects a quake could have on a densely populated and tightly constructed metropolis such as New York.
The Ramapo Seismic Zone sits atop earthquake fault lines that run through New York, New Jersey and Pennsylvania. The most recent quakes, with magnitudes of 2.6 and 2.3, followed a third earthquake that occurred in January, measuring 1.5, indicating the quakes may be growing in intensity. Could Manhattan be next?
According to the New York Insurance Department, “dozens of small quakes have been felt in the city”, with a 2.4 magnitude earthquake occurring in 2001. The advisory further states that “magnitude 5 earthquakes occur in New York about every century”, and that an 1884 quake “toppled chimneys and its shock was felt from Virginia to Maine.”
Without insuring against the risk, one could suffer terrible financial consequences. HUB International Northeast clients can mitigate risk by stepping up their natural disaster protection policy. Few insurers offer coverage in high-risk locales, including East Coast areas that are only remotely exposed to the threat of hurricanes. But HUB’s High Risk Homeowners' Coverage for Earthquake and Wind Storm offers insurance that protects against natural catastrophes and covers wind or flood exposures.
To find out more, schedule a complimentary consultation today.
For more information, read HUB's Earthquake Safety Checklist. Or contact: Damian R. Testa, President of NJ & PA Operations at: 908-790-6810
Download the Earthquake Safety Checklist
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For more information and to obtain a coverage quote, schedule a complimentary consultation with a HUB Risk Professional today. 908-790-6810
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