Damage estimates from Mexico’s 7.2 magnitude earthquake this week is not expected to exceed $300 million in insured loses, according to insurancejournal.com.

The epicenter of the quake, struck 19 miles southwest of Mexicali, a sparsely populated, agricultural area.  While damage was widespread in the Mexican border town, experts say that due to the epicenter’s distance from the city center negated the worst of the damage from the massive quake. Two have been reported dead with some 100 injured and some 250,000 are temporarily without homes, prompting Mexican officials to declare the affected region a disaster area in order receive federal funds for rebuilding.

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The area has seen no less than 500 aftershocks, including dozens exceeding 4.0 magnitude, and six above 5.0. Kate Hutton, a Caltech seismologist, told the Los Angles Times that residents near the epicenter have been experiencing sleepless nights but assured that the aftershocks would eventually pass.

“The good news is that the aftershocks do become less frequent with time,” she said. “After a week or two, it will only be an occasional jolt.”