Tremblor Shakes SF on Anniversary of 1906 Quake

A small earthquake centered near San Francisco rattled the area hours after a ceremony was held to mark the anniversary of the 1906 earthquake and fire that destroyed much of the city.

The U.S. Geological Survey says the April 18 quake had a preliminary magnitude of 3.8 and struck about two miles southeast of Pacifica at 2:57 p.m. There were no immediate reports of damage or injuries.

Dozens gathered in San Francisco early that morning to remember the 105th anniversary of the 1906 earthquake, which killed thousands. There are only three known survivors of that quake, and only one of them — Bill DelMonte, who was just a few months old at the time — was able to make this year’s commemoration.

With inflation and exposure added, if the 1906 earthquake occurred today, the total property loss could be well over $200 billion and the insured loss would range between $30 billion to $60 billion, according to Fireman’s Fund.

“The likelihood that there will be a major earthquake along the San Andreas Fault in California is very high,” said Markus Treml, natural catastrophe expert and seismologist at Allianz Re. “According to a scientific study in 2008, the chance of having one or more magnitude 6.7 or larger earthquakes in the San Francisco region over the next 30 years is greater than 63 percent; for the whole state, it is greater than 99 percent.”

Given the statistics, Calif. Insurance Commissioner Dave Jones called on Californians to update their earthquake preparedness plans and carefully assess whether they have a need for earthquake insurance. Based on a recent data call by the California Department of Insurance (CDI), almost 90 percent of homeowners and renters do not have earthquake insurance.

“With the 105th Anniversary of the Great Quake in San Francisco, I felt compelled to remind all consumers of the serious need for preparation before disaster strikes,” said Commissioner Dave Jones. “The tragic earthquake that struck Japan last month showed us, yet again, that disaster can strike at anytime, in any place, and typically when we least expect it. This reality underscores the importance for Californians to take some very simple, but very effective precautionary steps before it is too late.”

Earthquake preparedness tips, are listed at www.redcross.org and http://earthquake.usgs.gov/prepare/.

The California Earthquake Authority (CEA) is offering incentives to insurance agents to help educate consumers about earthquake risks and insurance coverage. For more information, visit www.earthquakeauthority.com/mvp.

Since the recent earthquake in Japan, A.M. Best reports a few thousand more earthquake policies have been purchased.

The Associated Press contributed to this article.

Topics California Catastrophe