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CBS recently listed a number of sobering facts about earthquake insurance that anyone from a scesmicly active area - like those of us from the Salish Sea would do well to be familiar with. Most know it isn’t included in standard homeowner’s policies, but even with it beware of the large number of restrictions in comparison to fire or other policies.

The topics covered are:

Deductibles Personal possessions Exclusions Loss of use Uncovered losses don't count toward the deductible Cost of coverage Who suffers catastrophic claims Mitigating risks Read the article at www.cbsnews.com/8301-505144_162-57319955/earthquake-insurance-8-things-you-need-to-know/

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You may think your insurance policy covers your home, apartment or business for earthquakes and floods. The Northwest Insurance Council thinks you should take a closer look, because many people are not insured for such national disasters.

The Olympian reports the insurance council is urging Washington residents to consider both earthquake and flood insurance. The council says earthquake and tsunami damage is not covered under most standard homeowners, renters and business owners insurance policies.

Earthquake insurance is available as a separate policy or as an endorsement to current coverage. Flood insurance policies are provided through the federal government's National Flood Insurance Program.

- http://www.seattlepi.com/local/6420ap_wa_quake_insurance.html

Losses from the quake, tsunami and fires will total at least $100 billion, including $20 billion in damage to residences and $40 billion in damage to infrastructure such as roads, rail and port facilities, catastrophe modeling firm Eqecat estimated.

Another firm, AIR Worldwide, estimated that losses covered by insurance could reach between $15 billion and $35 billion from the earthquake alone. It did not estimate losses from the tsunami or the damage to the Fukushima Daiichi nuclear plant in northeastern Japan.

According to AIR, the number of Japanese businesses and homeowners with earthquake insurance is relatively low, ranging between 14% to 17%. As a result, the total financial toll for the catastrophe could be considerably higher than the estimate of insured losses.

- http://money.cnn.com/2011/03/13/news/international/japan_earthquake_cost/index.htm?source=cnn_bin&hpt=Sbin

The declaration (noted at www.seattlepi.com/local/433304_emergency12.html) would presumably make affected homeowners and businesses eligible for low cost loans and other assistance.

Does anyone on Vashon know this process and how to best support locals seeking such assistance for this or any future disaster? If so, please contact me as I’m curious about this process.