Earthquake insurance - any CA homeowners here have it?

[Markus33]

Been looking into this recently.

Most basic homeowner policies do not cover earthquake damage. Less than 15% of California homeowners have earthquake insurance per CEA (California Earthquake Authority).

But coverage through CEA seems lousy to me.

http://info.insure.com/home/quake.html


Thoughts?

Markus

[Hugh R]

I have it, not sure if its worth it or not. Could have used it from the Northridge Quake, but didn't have it. Limits are a lot tighter now, but I couldn't financially sustain a $100K hit to my house without it.

[TerryH]

Originally posted by Hugh R
I have it, not sure if its worth it or not. Could have used it from the Northridge Quake, but didn't have it. Limits are a lot tighter now, but I couldn't financially sustain a $100K hit to my house without it.

I can't find the recent earthquake offer from my insurer, but I believe it said I was liable for the first $80K-$100K. If we were to have an earthquake that knocked down one wall, I would be better off knocking them all down and starting over with that kind of deductible.

I declined the offer.

[Dantilla]

Not worth it.

A wood framed single-family house is about the best structure to ride through an earthquake.

If we have a quake big enough to knock down my house, there will be far bigger problems, like no roads, gas or electricity. Infrastructure will be gone. Insurance will probably not be there because the insurance companies are all broke.

After the biggie in Kobe, Japan a few years ago, they adopted our wood-framed building codes. The engineers said that's the best defense against earthquakes.

After some prying, I got my agent to admit he does not have earthquake coverage himself.

[88cs]

I have it. $25K deductible, about the same cost as my regular insurance.

"Worth it" to me would depend on if you can afford the hit or are able to walk away from it.

[RoninLB]

I guess it's private insurance co's as I have Fed backed flood ins.

It's a great scam to build a 200k house in a vulnerable hurricane zone on the beach and completely rebuild every 5yrs. Max is $250k coverage.

[tabs]

50 years in CA and NEVER any Earthquake damage... that answer your question...