Quakes Prompt Questions About Insurance, Property Values

Adding earthquake insurance to his homeowner’s policy is something Plainfield resident Edwin Comeau never though he'd have to do, but as of Thursday, 12 quakes have rumbled through the region in the past week.

When the ground under his home started to shake, Edwin was one of many who reached out to insurance company Leo E. Tetrault & Son, Inc.

“I don’t want to lose my house,” he explained.

Insurance agent David Tetrault said expanding your policy is an inexpensive way to provide priceless peace of mind.

“Everyone is getting scared and we have been getting numerous calls,” said Tetrault.

Based on a home value of $300,000, Tetrault says earthquake insurance will only cost an average of $100-150 dollars a year.

While many callers are most concerned with the cost, Tetrault says others are just seeking basic information. The Connecticut Insurance Department answers some basic questions in a need-to-know list compiled on the department website.

Comeau was able to pick up the coverage in time for the latest earthquake. He said he is grateful because he has no intention of making his home elsewhere.

Residents who had plans to sell their homes before the seismic activity started can rest assured, according to Dan Kildea, broker at Sellstate Leading Edge Realty.

Kildea said those people should still have confidence in their ability to sell because recent seismic activity isn't enough to shake the market.

“I don’t think it’s a big problem for home sellers or buyers or a deterrent,” said Kildea.

If anything, Kildea is advising extra eyes during home inspections. He recommends looking for cracks in the foundation and directs homeowners to pay attention to changes in well water, like excess dirt.

Though it has become almost a daily occurrence, he still believes it is too early to know what the movement might mean going forward.

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