by Christine Kim
Saturday, March 13, 2010
ANCHORAGE, Alaska -- The recent earthquakes in Haiti and Chile may have struck a long way from here, but the threat hits close to home. The Alaska Earthquake Information Center reports 20,000 earthquakes each year -- but only two insurance companies offer earthquake insurance to Alaskans.
When you buy homeowner's insurance, the policy doesn't include damage from earthquakes or floods, which has to be added as optional coverage. That's why the Alaska Division of Insurance says not many people have it in their policies.
Millions are left without homes in Haiti, while Chileans expects it will take years to rebuild their country. They're both reminders of a devastating quake that shook the Last Frontier in 1964. But if disaster strikes again, are Alaskans ready to pick up the pieces?
Linda Hall, the director of the Alaska Division of Insurance, says not many Alaskans are covered -- only 9 to 12 percent.