June 8, 2006 at 12:00 PM #6693Beach RatParticipant
Came across this article in the OC register and thought some might get a kick out of it. Ok it isn’t cool to laugh at peoples misfortunes. At least I stopped torturing small animals right? (just kidding, I haven’t stopped, lol) It might be a little off topic, more on landslides and insurance, but some amusing quotes and interesting parallels to the overall Ca housing market. Possibly there are more “Cliff Dwellers” in CA than just the ones living on hills in Laguna?
“Last week’s landslide in Laguna Beach was a harsh reminder of the risks of owning homes on shaky grounds.”
“Many property owners discount worst-case scenarios. Others bet that some sort of government aid will come to the rescue after a debacle.”
“The cliff dweller’s reluctance to insure against slides isn’t only about price… .”June 9, 2006 at 5:47 PM #26552powaysellerParticipant
I hope everyone avoid buying homes in landslide zones and flood plains, and has insurance for earthquakes.
After the Cedar fire, I was shocked at how many people were underinsured. They cheated on the home value to their agent, to keep the premiums low, and then cried about unfair insurance laws when they needed the company to cover their loss.
This article is a reminder that natural disasters do happen. Make sure your insurance is in order.
I always carried earthquake insurance. I had my terrain checked out, and only then eliminated flood and landslide insurance. Our house was on granite, and at the top of a granite hill. So we were exempt from those accidents.
My heart does go out to earthquake and landslide victims in poor countries, because those people really couldn’t get the insurance.
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