All shook up over earthquake insurance

Earthquakes are all the rage these days, with New Zealand's Christchurch still shaking and Japan's Fukushima threatening to revisit the news with even more tales of woe. Indonesia is the latest hot spot to set off alarm bells and now more travelers from Beijing to the region are shelling out money to cover earthquake insurance. But is it a wise investment or simply panic?

One of the many reasons I love Beijing is that carpets are not really a thing here compared to other cities around the world. For those of you reading who do have carpets, perhaps you would like to examine your household furnishings under a microscope.

You might be horrified to discover that they are inhabited by vast armies of creatures from your worst nightmares whose only goal in life is to locate and consume your flesh. While you might tell yourself that these creatures are tiny and are no threat to your life, it still leaves you feeling more uneasy than you did when under the blissful cloak of ignorance.

And so it is with earthquakes. Each day, more seismographs are put in place to measure the earth's movements. This data is fed into ever more complex computers to be poured over by the media.

When your grandparents were young they might have read about particularly large earthquakes that occurred here and there, but they were spared the dubious honor of being updated on a daily or even hourly basis about every earthquake and their aftershocks. Although they will deny it vehemently, modern media organizations love natural disasters. These kinds of stories have an almost unlimited number of angles and, best of all, the stories keep on running.

Of course, that is not to say insurance is not a wise option, but those really concerned about earthquakes should focus on something more practical to complement their insurance plan. A bug-out bag containing all the essentials for an evacuation is the safest choice. This should contain enough water for 72 hours, water purification tablets, food, a first-aid kit, camping equipment, medical records, identification and a number of other items to see you through the first three days of an emergency. If you don't end up needing it you could feel foolish about being so paranoid; if you do end up needing it, you may feel paranoid about the people around you.

Disaster insurance only seems worth it for small- to medium-sized disasters. You can put a bet on that the world will end on December 21, 2012, and the bookmakers will take your money gladly.

If the end of the world is really coming then maybe that insurance money might be better invested in a quality bottle of champagne and some fine cigars to see you through those final moments.