RSS
Twitter
Facebook
YouTube
NBC4i wrote By Associated PressCOLUMBUS, Ohio -- Nationwide Mutual Insurance Co. is raising the deductible on its earthquake coverage because of the risk of major losses from an earthquake.
Columbus-based Nationwide is raising the deductible from 2 percent to 5 percent of a home's insured value. Nationwide is among the country's top ten biggest homeowners' insurance companies and second-biggest in Ohio.
"This is one way Nationwide manages its risk. There is potential for serious earthquake loss in Ohio," said company spokeswoman Nancy Smeltzer.
What is interesting to me is that Nationwide is claiming that there is a greater risk than usual of an earthquake in 2008 in OHIO (or so they say). Granted large earthquakes are certainly possible here. When they occur they usually originate from the New Madrid fault (a failed rift zone)zone [More info] .
I think we had a 5.0 or so in Southern Ohio in the late seventies, but the large ones aren't very common...
Launched in August 2010, TheMetropreneur.com is a local online resource devoted to small business development and entrepreneurship. Its aim is to tell the stories of Central Ohio's business community, foster regional economic development and assist entrepreneurs with its resource-heavy focus.