EARTHQUAKES: A REAL THREAT IN QUEBEC

The Charlevoix earthquake of 1663 was the strongest seismic activity ever documented in Quebec. Its magnitude has been estimated at 7. In 1990, a magnitude 5 earthquake occurred near Mont-Laurier, and in 1996 and 1997, two earthquakes of magnitude 4.4 and 4.3 were recorded near Sainte-Agathe-des-Monts. Quebec is located in a moderate seismic region, with earthquake risks in the Charlevoix and Saint Lawrence Valley regions. The probability that a high-magnitude earthquake will occur in Quebec within the next 50 years is 5 to 20%, depending on the region where you live. Earthquakes, even of low magnitude, can cause damage to buildings and infrastructure, which is why it is recommended that preventive and planning measures be taken to mitigate these risks.

Your basic home insurance policy does not include earthquake protection

Few Quebecers are covered in the event of losses due to an earthquake. Only 4% of Quebecers are actually covered for the risk of an earthquake, while 33% of Quebecers mistakenly think they are covered. Since earthquake timing and magnitude are unpredictable, it is important to prepare accordingly. By strengthening buildings and infrastructure, developing a family emergency plan and stockpiling emergency supplies, you can reduce the risks for you and your family in the event of an earthquake. It is also recommended to take out earthquake insurance to protect your family assets in the event of damage caused by an earthquake. To understand the need for this coverage and assess whether you could replace the belongings in your home or handle additional living expenses in the event of an earthquake, it’s important to ask yourself some questions.

Think about whether you could rebuild or repair your home after an earthquake and if you have the means to do so. If you have a mortgage or a line of credit on your home, it’s important to consider your ability to continue paying off these loans while paying for the reconstruction or replacement of your home in the event of an earthquake. For additional information on earthquake preparedness and the importance of taking out earthquake insurance, you can download the brochure produced by the Insurance Bureau of Canada entitled Earthquake Prep - Be Prepared, Not Scared. Contact your broker at J. Gérard Fortin et Associés Inc. for information on earthquake coverage options. We also invite you to consult this documentation produced by the IBC and Info Assurance:

IBC-Quebec Earthquakes

https://bac-quebec.qc.ca/en/insurance-issues/earthquakes/

Earthquakes and insurance

https://infoassurance.ca/en/blog/home/earthquakes-and-insurance/

La Grande Secousse du Québec

https://infoassurance.ca/en/blog/home/the-great-quebec-shakeout/

Earthquakes: Do you know what to do?

https://infoassurance.ca/en/blog/home/earthquakes-do-you-know-what-to-do/

5 misconceptions about earthquakes in Quebec

https://infoassurance.ca/en/blog/home/5-misconceptions-about-earthquakes-in-quebec/

* Source: IBC-QUÉBEC website, infoassurance.ca