Earthquake Insurance

[cookiesforthree]

Hi!!!  Just wondering how many people up here actually have earthquake insurance.  We just got a quote from our agent and it's $750 bucks a year.  We are thinking that is a lot of money.

But... maybe we are not as informed as some might be as to why are why not we should have earthquake insurance.

So... do you have earthquake insurance?  Why or why not.

[RennMan]

We have earthquake insurance, we've had it since we moved here 4+ years ago.  Our yearly payment is about the same as your quote.  Interestingly, when lived in the SF Bay Area, the quote was about triple that amount...

With the San Andreas fault running essentially through our and everyone elses' back (or front) yards, it seemed to us to be a good idea.

When we had the magnitude 4+ earthquake a few months ago it gave a me little piece of mind.

Other opinions may vary...

[superMom]

It might seem like allot of money.....until you need it!  As a native Californian I have had it since the first house we ever bought, and currently have it on both houses we own in California.  $62.50 a month for the peace of mind it offers is a pretty good thing.  Check your standard household policy to see what it would cover if the house was destroyed in an earthquake - suddenly it may not look so expensive.

[cabindweller]

We just got our renewal for EQ insurance and it went up by 30% this year!!  The price is set by CA and I wonder: what do they know??? 

[Bob C]

I have it too. Expensive? Yes. Deductibles outrageous? Yes.

[Bob C]

By the way, for those of you who were "watching" this topic, there is now a poll at the beginning of this thread.

[love_walnuts]

I do have earthquake insurance. But, I have a strong feeling that those who do not will somehow be "insured" by FEMA, paid by my tax dollar. I hope they appreciate my contribution to their replacement costs.

[Wildman]

There is a reason why we are only one of the two communities in the state that have Earthquake Red Zones identified.  The San Andreas runs right under our house at Pine and Oriole.  You can see it in the dig that University folks were studying near Mtn High East.

[cookiesforthree]

I do have earthquake insurance. But, I have a strong feeling that those who do not will somehow be "insured" by FEMA, paid by my tax dollar. I hope they appreciate my contribution to their replacement costs.

I'm not so sure I would count on FEMA.  If it's an earthquake that only ruins a few homes or just ruins the foundations or contents, then FEMA may not cover.  It would have to be devastating for FEMA to cover it.  I'm not sure, just a feeling. 

We did sign up for earthquake insurance today.  Costing a pretty penny, but I guess in the end, it's better than living out of a box with no money to rebuild our home.