NU Online News Service, Jan. 11, 1:07 p.m. EST

An earthquake off the coast of northern California is not expected to produce significant numbers of insurance claims, according to a catastrophe modeler.

The U.S. Geological Survey said a 6.5 magnitude quake struck Saturday off the northern coast of California 27 miles west of Ferndale, Calif.

Boston-based AIR Worldwide modeling firm said "the fact that the quake occurred along a relatively sparsely populated stretch of California will limit insured losses from this event." The firm noted that "earthquake insurance penetration, particularly for residential properties, remains low in California."

AIR mentioned that residential construction in the affected area is mainly wood frame homes. The company said there was one report of a wood frame house in Eureka getting knocked off its foundation, but otherwise the majority of the damage appears to be limited to "non-structural elements and contents."

Official estimates put the total damage at more than $12 million, but no serious injuries or structural damages were reported.

The quake was strongest between Petrolia and Eureka, Calif., and was felt as far east as Reno, Nev., and as far north as Eugene, Ore., the USGS said. The maximum recorded shaking was in Eureka, which was sufficient to cause moderate damage, the service said.

This is the largest quake to occur in this region since the 7.2 quakes in 1992 and 2005, USGS said.

Insurance brokerage Guy Carpenter in its Catastrophe Information report said around 117,000 people were affected by the quake throughout the region.