Forum Replies Created
-
AuthorPosts
-
booter1
ParticipantQuestion 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?Thanks.
ParticipantQuestion 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?Thanks.
ParticipantQuestion 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?Thanks.
ParticipantCV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate?
Try running numbers at 70%2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low
ParticipantCV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate?
Try running numbers at 70%2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low
ParticipantCV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate?
Try running numbers at 70%2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low
ParticipantCV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate?
Try running numbers at 70%2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low
ParticipantCV2- I think you are perhaps neglecting to include the following in your calcualtions..
1) Assuming 100% occupancy rate?
Try running numbers at 70%2) Insurance costs?
3) Maintenance costs- both routine and costs incurred between renters
4) Risk of increasing HOA costs as well as any special assessments?
5)Any Mello-Roos costs?
6) Don’t know the area but property taxes seem low
ParticipantSC,
Did you land something in the Los Ranchitos/Santiago Estates area that we discussed in another thread? Thx.
Booter1
ParticipantSC,
Did you land something in the Los Ranchitos/Santiago Estates area that we discussed in another thread? Thx.
Booter1
ParticipantSC,
Did you land something in the Los Ranchitos/Santiago Estates area that we discussed in another thread? Thx.
Booter1
ParticipantSC,
Did you land something in the Los Ranchitos/Santiago Estates area that we discussed in another thread? Thx.
Booter1
ParticipantSC,
Did you land something in the Los Ranchitos/Santiago Estates area that we discussed in another thread? Thx.
Booter1
ParticipantTG- I read before where you referenced “microclimates” of Temecula area.
What are the “cooler’ areas of Temecula?Would the Santiago Estates/Chapparal areas be cooler?
Thanks. -
AuthorPosts
