[quote=booter1]Question on Earthquake insurance in CA
Been thru a few moderate ones when we lived in OC previously….
May be relocating back to southern CA and checked with USAA to inquire about earthquake insurance.
For a home around $600,000 or so they are quoting around $2000 month (approx) with a $50,000 deductible…
Doesn’t seem like the risk/reward is worth it…
If damage below $50,000 I eat the cost..
Assuming damage above $50,000 I could lose downpayment/equity
(so if I put $100,000 as dp I could lose the additional $50,000 if house totally demolished.
Anything higher the bank can have the pile of toothpicks..
The bottom line it-seems like I am paying $2000 per month to insure against potential loss (due to earthquake) of $50,000
Am I missing anything?
Do most people carry earthquake insurance in CA?
