Did you feel the earthquake that hit south eastern Ontario and parts of Quebec on June 23, 2010 at 1:41 pm EST?

Luckily, the magnitude was only 5.0 according to the US Geological Survey, and no hefty damage was documented. The centre of the earthquake was 61 km north of Ottawa.

As stories came in, many individuals spoke of a gradual rumbling which increased in intensity, a bit like building work going off below or around you. One person even experienced it as high as the ninth floor of her office building. The rumbling sensation may have been minor, but Lorne definitely felt the earthquake.

The quake puts in your thoughts just how susceptible we are in Canada to natural disaster, even though one of this size only occurs once a decade. It certainly makes me wonder what I can do to look after myself and my family should another disaster happen.

Along with the usual emergency readiness, part of your preparation should include life insurance.

Earthquakes are among the most expensive natural disasters, together with floods and windstorms. Earthquakes answered for 30% of all damage by natural disasters from 1950-2001. Even though the human cost of earthquakes is only 9% compared to the 42% occurring due to famine, famine only accounts for 4% of the damage which is tiny in contrast to earthquakes.

The facts and figures make troubled reading, people hit by natural disasters in the 80′s was 147 million, which jumped by another 64 million in the 90′s, with lives lost going from over 86000 down to 75252 per year in the same periods.

When looking at natural disasters today to the 1960′s we see that there are 3 times the amount taking place and the financial impact has increased dramatically as well.

Therefore with this large climb in disasters individuals are now turning to ways of protecting our families in such events.

The five main Canadian insurance companies we surveyed do provide death benefits for you and your family if such disasters happen, but you need to check the policy carefully if you choose not to use them and go elsewhere. There are exclusions though, these will include natural disaster taking place in locations such as war zones or any area that travel is not recommended.

Prepared by Lorne S. Marr, the founder of LSM Insurance and mortgage life insurance expert

South eastern Ontario and some of Quebec were affected by an earthquake last week, did you feel it?

It was sheer luck, the magnitude was only 5.0 according to the US Geological Survey, and no major damage was reported. The centre of the earthquake was 61 km north of Ottawa.

There have been lots of descriptions of how the earthquake was felt, but the simplest one to imagine is construction work going on beneath you. The rumble could be noticed as high up as the 9th floor of office and condominium blocks according to eye witnesses. Lorne said that the rumblings felt quite small where he was, but he definitely felt them.

The quake puts in your thoughts just how susceptible we are in Canada to natural disaster, even though one of this size only takes place once a decade. It makes you stop and think, how ready are you and your household for the big one?

Life insurance should be part of any provisions you make to cope with disaster such as the earthquake last week.

Earthquakes are amongst the most expensive natural disasters, together with floods and hurricanes. To put it in context from 1950 to 2002, earthquakes accounted for 30% of devastation by natural disasters alone. However, they account for only 9% of the human cost, diminishing in comparison to famine, which killed 42% of people, but accounts for only 4% of the total devastation over those years.

People losing their lives fell in the 90′s from 86,328 per year in the 80′s to 75,252; but those affected by natural disaster increased from147 million in the 80s to 211 million people a year in the 90′s.

With a massive increase in monetary impact from natural disasters since the 1960′s we also see an increase of natural disasters, which isn’t good news.

Therefore with this large increase many of us are now turning to ways of looking after our families in such events.

Searching for life insurance that covers these types of disasters is important, so read the small print, satisfyingly all the five influential Canadian insurance companies we looked at do. There are caveats though, these will include natural disaster taking place in locations such as war zones or any area that travel is not recommended.

Prepared by L.S. Marr, the founder of LSM Insurance and mortgage life insurance expert

None of us know what is going to occur tomorrow and usually when something does occur it is for the most part bad and pricey. For your house, there are possible threats which need to be guarded against and do not forget the dangers that also start from other individuals, like acts such as burglary and arson. Should anything improper happen to your home, the homeowner’s policy will pay out the sum agreed by the underwriter if all payments towards the annual price are current. Getting home insurance quotes is a good way to make sure you are protected with the right coverage and at the most affordable premiums

The usual house insurance policy will cover a number of positions as a standard feature like theft and damage to personal possessions, accidental damage, fire and acts of hooliganism. You will probably have a deductible to include plus the plan probably has a maximum amount it will cover therefore a standard insurance insures the house itself and the things you keep in it.

Usually, just one insurance will cover most things and almost each insurance underwriter can arrange house insurance policies using their website and so it could not be easier to arrange. All you need to do is visit their website to get quotes, preferably from as many good sites as you can, to get a good idea as to what is there on offer and pick out the one that suits you the best.

Although it is simple to be tempted to decide on using the lowest insurance quotation, you would be wise to use this comparison and check the details of what is covered and just how much that cover is. Homeowners insurance will also be required by the mortgage provider as an assurance the property is protected financially in the event of damage.

Although monthly premiums may be an issue, it is quite common for deductions to be available for individuals starting a plan with a new insurer. Another way to reduce the monthly insurance premium is to adjust your deductible and pay more than the minimum required as it can make quite a big difference financially every month.

Many people make the mistake of overlooking the replacement price of possessions and need to realize that a insurance must allow for the increase in prices of products when they come to be replaced. No-one wants to visit all the bargain shops and garage sales to try and replace your property lost in a fire or burglary because they didn’t have a Replacement Value insurance policy.

Your house is probably going to be the most expensive thing you ever insure not just for the price of replacing the building but also for the contents which means personal items and perhaps valuable items. It’s advisable to get as many of your possessions covered as possible in your homeowner’s insurance policy so quite simply, whatever is precious to you looking at homeowners insurance quotes regularly is a good idea because your belongings and home ought to be covered.

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