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Thursday, October 16, 2014
OKLAHOMA CITY – Oklahomans can learn how to protect themselves from earthquakes by holding a drill. The Oklahoma Insurance Department (OID) did so Thursday during the Great Central U.S. ShakeOut.
“I think we’ve all come to realize that earthquakes are a part of life here in Oklahoma,” said Oklahoma Insurance Commissioner John D. Doak. “That’s why families and businesses need to have a plan and practice it to stay safe when the ground begins to shake.”
A video of OID employees participating in the drill can be found here.
The ShakeOut Drill is an annual nationwide event designed to teach people what to do when an earthquake occurs. During an earthquake, the best actions are to drop, cover and hold on. In Oklahoma, close to 40,000 individuals, organizations and businesses participated in the drill.
The Oklahoma Geological Survey has logged more than 400 earthquakes of magnitude 3.0 or greater this year. An estimated 15 percent of Oklahomans currently carry earthquake insurance. Standard homeowners or renters insurance policies do not cover damage caused from earthquakes.
“Today’s drill is also a great reminder of the importance of earthquake insurance. I urge Oklahomans to strongly consider adding the endorsement,” said Doak.
The cost of an earthquake policy varies, depending on level of coverage and other factors. Premiums are based on property location, age, construction type and rebuilding costs. An Oklahoma homeowner can expect to pay $100 to $150 per year for the coverage. It covers repairs to your home and personal contents. It may also cover other structures not attached to your house, like a garage, and pay for debris removal.
Oklahoma consumers with questions about earthquake insurance can call the Oklahoma Insurance Department’s Consumer Hotline toll-free at (800) 522-0071 or visit http://www.ok.gov/oid/Consumers/Prepare_Yourself/Earthquakes.html.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
For more information contact:
Kelly Collins Dexter