earthquake insurance

[bearishgurl]

[quote=UCGal]Our insurance is through the CEA. As far as I know they’re the only folks who write earth quake insurance policies in CA.

You can estimate the premium on their website if you know the year built and what kind of bracing/strapping the house has.

http://www.earthquakeauthority.com/CEAIndex.aspx%5B/quote%5D

My earthquake policy is thru the CEA, serviced by Farmers. My original “Protector Plus” policy allows about $330K to rebuild. Due to its $50K deductible, if I sustain a “total loss,” I will get $280K to rebuild. I DO believe I can rebuild for this, with nothing out of pocket.

[carlsbadworker]

[quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.

[carlsbadworker]

[quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.

[carlsbadworker]

[quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.

[carlsbadworker]

[quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.

[carlsbadworker]

[quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.

[an]

[quote=carlsbadworker][quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.[/quote]
Lets take your numbers then, $1k/yr for the next 50 years = $50k + $45k (15% deductible of a $300k house). That’s $95k out of pocket to to rebuild a $200k-300k house. That still seem worth it to me. Even if nothing happen until 100 years from now, you’re talking about $145k total payment to rebuild a $200k-300k house (assuming cost to rebuild won’t go up for the next 100 years). Still seem worth it to me. Am I missing something?

[an]

[quote=carlsbadworker][quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.[/quote]
Lets take your numbers then, $1k/yr for the next 50 years = $50k + $45k (15% deductible of a $300k house). That’s $95k out of pocket to to rebuild a $200k-300k house. That still seem worth it to me. Even if nothing happen until 100 years from now, you’re talking about $145k total payment to rebuild a $200k-300k house (assuming cost to rebuild won’t go up for the next 100 years). Still seem worth it to me. Am I missing something?

[an]

[quote=carlsbadworker][quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.[/quote]
Lets take your numbers then, $1k/yr for the next 50 years = $50k + $45k (15% deductible of a $300k house). That’s $95k out of pocket to to rebuild a $200k-300k house. That still seem worth it to me. Even if nothing happen until 100 years from now, you’re talking about $145k total payment to rebuild a $200k-300k house (assuming cost to rebuild won’t go up for the next 100 years). Still seem worth it to me. Am I missing something?

[an]

[quote=carlsbadworker][quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.[/quote]
Lets take your numbers then, $1k/yr for the next 50 years = $50k + $45k (15% deductible of a $300k house). That’s $95k out of pocket to to rebuild a $200k-300k house. That still seem worth it to me. Even if nothing happen until 100 years from now, you’re talking about $145k total payment to rebuild a $200k-300k house (assuming cost to rebuild won’t go up for the next 100 years). Still seem worth it to me. Am I missing something?

[an]

[quote=carlsbadworker][quote=AN]Earthquake insurance is so cheap, I consider it worthwhile for me. They’re going for around 150-300/yr. for your typical tract homes. [/quote]

That’s only because you are in San Diego. For where scaredy live (and where I live), it is easily $1000/yr or more. Now takes out 15% deductible and factor in $1K/yr premium, it’s almost like I would be insuring for the lender. I guess we have no choices but to skip it.
Good thing that houses here are normally built after 2000 around here.[/quote]
Lets take your numbers then, $1k/yr for the next 50 years = $50k + $45k (15% deductible of a $300k house). That’s $95k out of pocket to to rebuild a $200k-300k house. That still seem worth it to me. Even if nothing happen until 100 years from now, you’re talking about $145k total payment to rebuild a $200k-300k house (assuming cost to rebuild won’t go up for the next 100 years). Still seem worth it to me. Am I missing something?

[joec]

Has SD ever had a truly destructive earthquake? Maybe the rates are what they are because people assume an earthquake would result in a house being totaled (like a car). I am only guessing, but in actuality, maybe only certain parts of a home will be affected and the insurance company will only spend the least amount to fix that portion. So 50k to fix over 50 years, but the damage was only 30k rather than a complete rebuild…

No idea. Considering it myself…

[joec]

Has SD ever had a truly destructive earthquake? Maybe the rates are what they are because people assume an earthquake would result in a house being totaled (like a car). I am only guessing, but in actuality, maybe only certain parts of a home will be affected and the insurance company will only spend the least amount to fix that portion. So 50k to fix over 50 years, but the damage was only 30k rather than a complete rebuild…

No idea. Considering it myself…

[joec]

Has SD ever had a truly destructive earthquake? Maybe the rates are what they are because people assume an earthquake would result in a house being totaled (like a car). I am only guessing, but in actuality, maybe only certain parts of a home will be affected and the insurance company will only spend the least amount to fix that portion. So 50k to fix over 50 years, but the damage was only 30k rather than a complete rebuild…

No idea. Considering it myself…

[joec]

Has SD ever had a truly destructive earthquake? Maybe the rates are what they are because people assume an earthquake would result in a house being totaled (like a car). I am only guessing, but in actuality, maybe only certain parts of a home will be affected and the insurance company will only spend the least amount to fix that portion. So 50k to fix over 50 years, but the damage was only 30k rather than a complete rebuild…

No idea. Considering it myself…

[Author]

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