The 1997 Uniform Building Code

Modern criteria for seismic design and construction have been included in the Uniform Building Code since 1973. The 1997 edition has the most up-to-date requirements. Most large communities in Alaska have adopted the Uniform Building Code. The code requires greater strength for essential facilities and for sites on soft soil where shaking intensity is increased. The code sets minimum requirements that assure life safety but allow earthquake damage and loss of function. Owners who desire less potential damage and continued use of the building after severe earthquakes should insist on higher standards for design, construction, and inspection. Discuss with an architect or a civil or structural engineer what level of damage will be acceptable.

Earthquake insurance

Standard homeowners insurance does not cover damage and destruction that happens as a result of an earthquake. Many are unaware that their existing fire insurance does not cover fires caused by earthquakes. The 1989 Loma Prieta earthquake in California caused over 6 billion dollars in damage, but insured property damage accounted for only 16% of this loss. In Alaska, about 18 percent of homeowners have purchased earthquake insurance, and about 12 percent of business owners have it.

The most common type of earthquake insurance is normally added as an endorsement on a standard homeowners insurance policy. Typically, there is a deductible of 5 to 10 percent of the value of the home. This means that for a home currently insured at $150,000, you would have to pay $7,500 to $15,000 on damages before the insurance company would pay anything. Separate deductibles may apply to the contents of the house and the structure. An important coverage is temporary living expense, which pays for motel and meals if you have to move out of your home. There is usually no deductible on this coverage. The yearly cost of residential earthquake insurance is normally about $1.50 to $2.00 per $1,000 of coverage on a conventional frame home. However the rate may rise to $6.80 to $12.80 per $1,000 of coverage on structures with brick or masonry veneer on the outside. Clearly, the insurance industry considers homes without brick or masonry to be better risks in an earthquake. To find out more about earthquake insurance, ask your insurance agent.