The earthquake in Taiwan raises alerts. How to cover yourself?

The earthquake in Taiwan raises alerts. How to cover yourself?

Although earthquakes in Argentina are rare and there are few seismic zones in the country, concentrated in the area of ​​Salta, Jujuy, San Juan, Mendoza and Tierra del Fuego, mainly, the strong ground movement that was generated in the last hours in Taiwan, generates alert in the population and some of the doubts that appear is how protect yourself from these types of events.

Argentina suffered some 80 earthquakes between 1692 and 2021 in different parts of the country. One of the most remembered is that of January 15, 1944 in San Juan, which destroyed the province and neighboring departments. It caused around 10,000 deaths out of a population of 90,000 inhabitants. It also caused damage in the north of the province of Mendoza. The maximum intensity of the earthquake was IX degrees on the Mercalli scale.

And some of the most recent were:

  • that of October 17, 2015, in Salta, in which 1 death and 30 injuries were reported. There were 170 homes damaged, 20 had to be demolished and others propped up. The intensity was VII degrees on the Mercalli scale.
  • that of January 18, 2021, in San Juan, in La Rinconada, where collapses of adobe houses, distension cracks along the axis of National Route 40, partial collapses, and other serious damage were reported, mainly in the Departments of Pocito and Sarmiento. The Mercalli intensity was V.

Below is the complete list of seismic movements that the country recorded in 329 years:


Insurance: the costs of an earthquake and how to cover yourself

The truth is that the potential cost of earthquakes has been growing throughout the world due to the increase in urban development in all latitudes. A big problem that areas have that are not prepared for these catastrophes is that, for the most part, old buildings are not built thinking that there may be an earthquake. This may be because they are infrequent events or also due to budget issues.

In this situation, good insurance coverage can be a key tool. It is worth mentioning that earthquakes are not covered by standard home or business policies, but you can purchase additional earthquake insurance from some insurance companies. For example, there are companies that offer complementary policies for this type of risk in the case of Fire insurance.

The earthquake insurance They provide protection against damage caused by the earthquake, while other types of damage caused by an earthquake due to fire or water are covered by standard home or business insurance policies.

Some types of earthquake coverage

There are some policy models that set percentages of deductibles for earthquakes, which can range between 2% and 20% of the replacement cost of the structure. These coverages are more common abroad, not so much in Argentina, where the offer of policies for this type of risk is much smaller. This also means that, in many cases, they are more expensive, given that the insurance works based on the number of contributors to the system.

The truth is that, if you hire it, it is key to have a coverage that truly guarantees the recovery of the asset, beyond the monthly cost of the premium. In this way you can avoid falling into underinsurance.

Source: Ambito

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