Earthquakes and suing oil companies

[_poker_]

Enough is enough.... the gov gonna be outta here and we gonna be stuck with problems.

 

[davidallen]

Re: Earthquake insurance - we recently inherited property back in Cushing... yeah, just in time for that mess. Part of what you saw on TV was our downtown building, but I digress. The rates on earthquake aren't terribly high if you can get it. As it stands you have to have a window of 30 days without a seismic event to qualify + be ready for the 20% deductible... Much easier to get in Portland, Oregon which would seem to have a substantially higher risk.

 

[osu2082]

Question-does earthquake insurance (in OK) cover earthquakes in a situation where the quake will be argued to have been man made? I'm sure the insurance co can and will argue that the quakes are not a natural result (based on historical trends). Maybe someone with some insurance/legal experience can enlighten us on this matter.

Different companies have taken different positions and it is an issue in the industry. I would imagine you will see plenty of court cases centering around this topic in the future.

 

[anon_xl72qcu5isp39]

Re: Earthquake insurance - we recently inherited property back in Cushing... yeah, just in time for that mess. Part of what you saw on TV was our downtown building, but I digress. The rates on earthquake aren't terribly high if you can get it. As it stands you have to have a window of 30 days without a seismic event to qualify + be ready for the 20% deductible... Much easier to get in Portland, Oregon which would seem to have a substantially higher risk.

See if your policy has an exclusion for man-made causes of the quakes. If so, you can kiss coverage goodbye in Oklahoma as the insurers will claim the quake is caused by oil and gas activity.

 

[tcpoke]

See if your policy has an exclusion for man-made causes of the quakes. If so, you can kiss coverage goodbye in Oklahoma as the insurers will claim the quake is caused by oil and gas activity.

True, but that is on you as the buyer. There are policies out there that don't have that exclusion.