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These earthquakes and tsunamis led to the largest insurance losses

These earthquakes and tsunamis led to the largest insurance losses

 


10. 2 billion dollars

Total losses: $6 billion

Affected areas in Mexico: Puebla, Morelos and Greater Mexico City.

Date: September 19, 2017

(Credit: Rebecca Blackwell/AP)

9. $2.1 billion

Total losses: $2.7 billion

Affected areas in New Zealand: Canterbury, Christchurch, Littleton.

Date: June 13, 2011

(Credit: nzraw.co.nz/Wikicommons)

8. $2.1 billion

Total losses: $3.9 billion

Affected areas in New Zealand: Canterbury, Kaikoura, Wayau, Wellington, Marlborough, Picton

Date: November 13, 2016

(Credit: Victor Mach/Shutterstock.com)

7.3 billion dollars

Total losses: $100 billion

Affected areas in Japan: Hyogo, Kobe, Osaka, and Kyoto.

Date: January 17, 1995

(Credit: KENPEI/Wikicommons)

6. $6.5 billion

Total losses: $32 billion

Affected areas in Japan: Kumamoto, Aso, Chuo Ward, Mashiki, Minamiasu, Oita, Miyazaki, Fukuoka, Yamaguchi.

Date: 14-16 April 2016

(Credit: Hajime Nakano/Wikicommons)

5. $7.4 billion

Total losses: $10 billion

Affected areas in New Zealand: Canterbury, Christchurch, Avonside, Omihi, Timaru, Kayaboy and Littleton.

Date: September 4, 2010

(Credit: Schwede66/Wikicommons)

$4.8 billion (including tsunami)

Total losses: $30 billion

Affected areas in Chile: Concepcion, Metropolitana, Rancagua, Talca, Temuco and Valparaiso.

Date: February 27, 2010

(Credit: Claudio Nunez/Wikicommons)

3. $15.3 billion

Total losses: $44 billion

Affected areas in the United States: California: Northridge, Los Angeles, San Fernando Valley, Ventura and Orange.

Date: January 17, 1994

(Credit: Robert A. Applet/FEMA)

2. $16.5 billion

Total losses: $24 billion

Affected areas in New Zealand: Canterbury, Christchurch and Littleton.

Date: February 22, 2011

(Credit: Greg Auburn/Wikicommons)

1. $40 billion (including tsunami)

Total losses: $210 billion

Affected areas in Japan: Aomori, Chiba, Fukushima, Ibaraki, Iwate, Miyagi, Tochigi, Tokyo and Yamagata.

Date: March 11, 2011

(Credit: DFID – UK Department for International Development / Wikicommons)

In February of this year, a 7.1-magnitude earthquake hit Fukushima Prefecture on Japan’s east coast, causing losses expected to reach hundreds of millions of dollars, Aon plc predicts.

However, this earthquake was not the most costly in the past two decades. Nor did earthquakes occur in Croatia earlier this year, which were the country’s most powerful in 140 years, according to the Insurance Information Institute (III). The Croatian Economy Minister estimates the insured losses at about $63.5 million.

The slideshow above highlights the most costly earthquakes and tsunamis, ranked by insured losses when the event occurred, according to III

When it comes to homeowners with earthquake insurance, about 23% of the insured reported earthquake coverage, according to a survey by Foundation III. That’s up from 15% in 2018. Western US homeowners were most likely to have earthquake insurance, with about 30% having a policy pursued by the South (25%), the Northeast (21%) and the Midwest (16%).

If you find yourself in an earthquake, you can protect yourself immediately in most situations if you fall on your hands and knees, cover your head and neck and hold onto your shelter (or head and neck) until the shaking stops, according to the Centers for Disease Control and Prevention.

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