At $2 billion, the Nisqually Earthquake was the most costly natural disaster in the history of Washington State. Insured losses were$305 million, about 15 percent of the total. Losses included not only damage to structures but damage to contents and loss of data. For those businesses with losses greater than $10,000, about half received earthquake insurance payments. Most small businesses repaired their damage without insurance payments. • 7.1.6: What to Do if You Have an Earthquake Claim The most important thing you can do is before the earthquake: make an inventory. List everything you own, room by room, showing the number of items, their description, age, and cost of replacement. Take photos. Keep all bills and receipts. Keep your inventory and supporting documents someplace other than your house, such as a safe deposit box. Jack Watts of State Farm Insurance Co. told me that “It is difficult to overstate the value of an inventory, photos, and receipts." • 7.1.7: Summary Statement and Questions for the Future Earthquake insurance is a high-stakes game involving insurance companies, policyholders, and in some cases, governments. A Tacoma homeowner was quoted in Business Insurance, saying “My additional premium for earthquake insurance is$768 per year. My earthquake deductible is $43,750. The more I look at this, the more it seems that my chances of having a covered loss are about zero. I’m paying$768 for this?”