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Recent Earthquake Prompts Homeowners to Question Coverage
Officials say many homeowners don't have the necessary insurance that will cover them in case of earthquake damage.
ANCHORAGE - An earthquake measuring 5.8 rocked the city of Anchorage Monday.
No major damage has been reported witihin the Municipality, nevertheless officials say many home owners don't have the necessary insurance that will cover them in case of earthquake damage.
"Had it [the epicenter] been in Anchorage there might have been more damage," said Guy Urban, a geophysicist for The West Coast and Alaska Tsunami Warning Center.
The earthquakes center was located 25 miles NW of Anchorage.
State Farm agent Todd Jackson says on average 1 in 3 residents in Anchorage have earthquake coverage, and says some homeowners don't know if they're even covered.
"Most policies exclude damages that occur from an earthquake," Jackson said. "That means you're on the hook."
Jackson says adding earthquake coverage can cost nearly double what homeowners pay for insurance.