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East Coast Homeowners May Have to Pay for Earthquake Losses

Homeowners won’t be covered by standard property insurance policies if there’s any damage following today’s 5.8 magnitude earthquake centered near Richmond, Virginia.

Earthquake protection is generally excluded from standard homeowners’ insurance policies, and consumers have to purchase coverage either as a separate policy or an endorsement to an existing policy, said Michael Barry, a spokesman at the Insurance Information Institute in New York.