Posted on May 19, 2014

Do Indiana Businesses Need Earthquake Insurance?

Indiana earthquake insurance

Southwest Indiana experiences periodic seismic activity and the U.S. Geological Survey recently released earthquake maps that may provide additional information about areas that are most at risk for earthquake damage.

The Evansville area of Indiana, in particular, experiences the most activity due in part to its close proximity to the New Madrid zone and the Wabash Valley seismic area. Seismologists predict that this part of Indiana does have a greater chance of eventually experiencing a large earthquake.

While the last major earthquake of 7.7 hit the southern area of Indiana in 1811-1812, small tremors and earthquakes have recently shaken up residents in Illinois and surrounding states. Indiana businesses that are located near zones indicated on the earthquake map should consider purchasing earthquake insurance as a means to fully protect their business assets.

A benefit of purchasing earthquake coverage to protect a business now is that insurance premiums are typically much lower since a large event has not occurred in recent history. Unlike California, which experiences frequent quakes and much higher insurance premiums, Indiana business owners can benefit from purchasing the coverage while rates are low.

If seismic activity on the New Madrid or Wabash Valley areas continues, more people will demand earthquake coverage, and the potential for rate increases will grow. Commercial insurance protection can give Indiana business security in the midst of disaster or unexpected events so planning ahead can truly benefit business owners in the long run.

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