Iowa City Considers Purchasing Earthquake Insurance
Some Iowa cities have earlthquake coverage so it was not that surprising that city leaders in Johnston are considering earthquake insurance in the wake of two tremors this spring in Illinois and Missouri.
City Finance Director Theresa Rotschafer says earthquake coverage would cost about $4,000 a year for a limit of $10 million, with a $100,000 deductible.
Cedar Rapids has $5 million in coverage. Des Moines has $20 million.
Jester Insurance Services in Des Moines handles insurance for a group of 450 cities in Iowa. Spokesman Jim Lane says he believes about 5 percent of those cities have earthquake coverage.
The National Weather Service says there have been 13 earthquakes with epicenters in Iowa. The first was in Sidney, in 1867. The latest was near Shenandoah in 2004.
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