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With the terrible events in Japan are unfolding before our eyes, I am reminded that my co-op complex reviewed our earthquake insurance coverage last year and found that it only covered 10% of the complex's value. After discussions with the Board, we decided to increase that to 100% at very little extra cost to the shareholders. Our complex was built in the 1950's and while it has some iron supports, I am sure that even in a small quake, we would suffer major façade repair, at best.
Go to this site to see recent earthquake activity near NYC: http://www.ldeo.columbia.edu/cgi-bin/quake.cgi
Full disclosure: I work for an insurance company in their Pension area but not for the one that insures our complex.
we are on a fault line and i have experienced i decent one here , with the after shock very noticeable as i driving to work.,i believe they were pretty small, but we are in the fault line with Indian pt.
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Thanks for the thoughts - my building is not covered for Earthquake damage - so something to discuss come our renewal in July.
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