Quote:
Originally Posted by Scooter
I just got a notice from my insurance recently, telling me that they are raising my earthquake insurance rate. Guess they think the big one is coming?
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Nope. The state notified the ins co's that they won't copay as much (they underwrite the EQ ins).
Quote:
Originally Posted by Tobra
Earthquake insurance is a waste, don't bother. If there is an earthquake and your house falls down, set it on fire and make a fire insurance claim.
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Won't work. They'll blame the fire on a natural disaster, which is not covered.
Whatever you do in the event of an EQ., don't leave your house even if they evacuate or claim the house uninhabitable. You'll never get back in. But, it's very hard for them to enforce the orders when there is widespread damage and they will leave you alone. You may not have electricity or gas, but if you leave, game over. They can condemn anything they want and if you don't tear it down or fix it, they will tear it down and bill you.
I'm a contractor and I know what's up here. Martial law will prevail and I'll shoot anyone that comes on my property in the event of a big disaster. There will be mayhem, count on it. You should have seen the LA riots of the 60's and the 90's.
I keep foodstuffs, water, camping equipment and ammunition at the ready and I don't camp or hunt.
I have EQ ins and it costs me about $60/mo. Trouble is, if I can rebuild my house myself for the lousy percentage they will give me, the money won't be there. People in New Orleans and MS are still waiting to get a settlement in many cases.
I have credit cards that add up to over 100K in limits for that purpose. I'd probably use it all and do a BK with the house homesteaded until the federal judge could figure out a way to collect. Let him do the work.
I hate the "system," can you tell?
