EARTHQUAKE RECOVERY CHALLENGES

Earthquake Risks to Condo Owners and their Options…Before Motus Became Available (SF Gate)Condo dwellers can buy quake insurance that covers the interior of their unit and certain other expenses…Homeowners associations can buy insurance that covers the building and other common areas, but nothing inside units…To be fully protected, a unit owner needs both. If unit owners buy coverage for themselves, but the HOA has not purchased it for the building and it is destroyed, the owners might have nothing to come home to.”

The Inadequacy of Federal Assistance for Condo Owners Affected by an Earthquake (LA Times)Officials of the Federal Emergency Management Agency…have decided that condominium owners who have been living in their units [after an earthquake] cannot collect federal housing assistance because their homes–while in need of repair–are ‘not uninhabitable’.”

Just The Facts — Northridge Earthquake (Public Policy Institute of California) “In total, almost 450,000 [residential] units (84% of which were multifamily units) were inspected and found to be damaged.”

The Loma Prieta, California Earthquake of October 17, 1989 — Building Structures (United States Geological Survey) “Of the 12,000 units lost, 9,000 were multifamily buildings. Of these, nearly 90 percent were still out of service one year after the earthquake…”

California Earthquake Zoning and Probably Maximum Loss Evaluation (California Department of Insurance) “In the Loma Prieta earthquake, for every $100 of insured residential damage, there was an average of $20 of contents damage, and $10 of loss of use. It turned out that these ratios were the same for the 1994 Northridge earthquake, even though the dollar amounts were much greater.”

A swarm of earthquakes has been active since yesterday well off the coast of Oregon in the Blanco Fracture Zone.

The two largest quakes in this series have been of magnitude 5.4, occurring just before 6:00 this morning. None of these nine events has been close enough to land to be felt.
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strong #earthquake on #Papua, #Indonesia ... See MoreSee Less

strong #earthquake between #Niigata and #Sakata, affecting mostly #Yamagata and #Niigata prefectures, #Japan ... See MoreSee Less