http://www.homeownersinsurance.org/californians-clamor-for-earthquake-insurance/ Homeowners Insurance Tips and News Tue, 16 Nov 2010 19:34:32 +0000 hourly 1 http://wordpress.org/?v=3.0.2 http://www.homeownersinsurance.org/californians-clamor-for-earthquake-insurance/comment-page-1/#comment-919 Inbox485 Fri, 01 Oct 2010 21:21:56 +0000 http://www.homeownersinsurance.org/?p=78#comment-919 Earthquake insurance in CA is a joke. By the time there is enough damage to exceed the deductible, you aren't going to be alone, and there is no way that any reasonably sized city can be covered. Also pretty much everything in your house of value is excluded. Historical earthquakes only caused so much damage because structures were not attached to foundations and slid off. Modern structures survive with little to no damage up to the point where foundations crumble (this didn't happen in either the SF or NR earthquakes that are so often used to push earthquake insurance). So then you have that nice little bit of fine print that never gets mentioned where if the damages of an incident exceed available funds, the available funds are rationed out among the claims. So, aside from the fact that virtually all of your personal items are excluded from the claim and the first $10K (the deductible last I checked) is on you, you won't likely see more than a fraction of your damages you think are covered. So to pay for all this great coverage it only costs about what you are already paying for regular homeowner's insurance. With or without earthquake insurance you can say hi to your new FEMA trailer if there is an earthquake that bad (assuming you aren't dead). Earthquake insurance in CA is a joke. By the time there is enough damage to exceed the deductible, you aren’t going to be alone, and there is no way that any reasonably sized city can be covered. Also pretty much everything in your house of value is excluded. Historical earthquakes only caused so much damage because structures were not attached to foundations and slid off. Modern structures survive with little to no damage up to the point where foundations crumble (this didn’t happen in either the SF or NR earthquakes that are so often used to push earthquake insurance). So then you have that nice little bit of fine print that never gets mentioned where if the damages of an incident exceed available funds, the available funds are rationed out among the claims. So, aside from the fact that virtually all of your personal items are excluded from the claim and the first $10K (the deductible last I checked) is on you, you won’t likely see more than a fraction of your damages you think are covered. So to pay for all this great coverage it only costs about what you are already paying for regular homeowner’s insurance. With or without earthquake insurance you can say hi to your new FEMA trailer if there is an earthquake that bad (assuming you aren’t dead).

]]> http://www.homeownersinsurance.org/californians-clamor-for-earthquake-insurance/comment-page-1/#comment-9 freehomeowner Fri, 06 Nov 2009 20:09:29 +0000 http://www.homeownersinsurance.org/?p=78#comment-9 good thing I don't live in California. Other than the cool governor, don't know why it's the place to be? Especially after these earthquakes. good thing I don’t live in California. Other than the cool governor, don’t know why it’s the place to be? Especially after these earthquakes.

]]>