Homeowners in British Columbia are fortunate to be surrounded by mountains and water front views, but accompanying Mother Nature’s beauty is also her wrath.

According to the Government of BC, the province is considered a high-risk earthquake zone.

On May 15, Sechelt, BC experienced a 2.7 magnitude earthquake, and eight earthquakes (classified as 1.5 or greater) in the province were reported to Earthquake Track in the past week. BC has experienced a total of 1,034 in the past 365 days. To help put that into perspective, the Insurance Bureau of Canada says about 4,000 are reported in Canada each year.

Homeowners should be prepared incase a tremor escalates, which means putting together a 72 hour emergency preparedness kit, and making sure they are protected by earthquake insurance.

Earthquake damage usually is not covered in a standard home insurance policy, and with the frequency of tremors in this coastal part of the country, it is a key point to be aware of.

Map showing earthquakes in BC from May 11- 17, 2018. (Source: Earthquake Track)

Damage could range from a couple thousand dollars and be as significant as structural damage that requires a homeowner to completely replace their home. These cases would not be covered by a standard plan but can be added on to an existing one.

Costs associated with earthquakes have increased over the years with urban development taking place near fault lines and older structures growing more vulnerable to damage as they were not built or upgraded to meet current building codes.

Tacking on that extra coverage may increase an annual premium by about 30- 50 per cent. The risk level of where a customer lives will determine what deductible they are eligible for. A higher deductible can be intimidating but that higher cost means it is more spread out, making it more affordable to those who need it.

It is important for homeowners to be proactive, contact their broker, and be fully informed of all their options for adequate coverage so there are no surprises in the event they find themselves in the position of having to make a claim.