T Nation

Earthquake Insurance Poll

[quote]hspder wrote:

Just goes to prove my theory that 90% of the population is incapable of any intelligent thought…

I guess the last governor’s race wasn’t proof enough?

[quote]awesomepossom wrote:
Magister Ludi wrote:
I don’t have it. And these numbers are why. That much money to save your butt in only the most catastrophic situations doesn’t fit into my planning. Obviously it makes sense for Magister because he’s doing it. Different strokes for different folks.
And, by the way, I neither want nor expect Uncle Sam to bail me out.[/quote]

I know what you mean awesome. Every year I debate whether its worth it. I’m not at all sure that it’s money well spent.

Sorry guys. I didn’t mean to start a ruckus by just quoting my deductable.

If the value of my house was anywhere near reality, I would have to agree with Awesome about whether earthquake ins. makes sense.

But being California, it’s actually closer to $2 million. That’s why I keep paying the freight.

I’m not sure you guys are catching awsomes point. What you buy and sell a home for is irrelivant, it is what you could rebuild for that matters in insurance, (i’m an agent). At a very very generous reconstruction value of $150 per square foot which is very high for NY but it might be closer to normal in CALI, if you had 2 million to spend on rebuilding a house it would be approx 14,000 square feet. I honestly don’t think you guys understand how big that is. If you own a home that is that big, $3600 a year for earthquake insurance is a drop in the bucket, likley you wouldn’t even remember you are paying it.

For arguments sake lets say that I am off on my reconstruction figure and it’s actually double that. Now again, there is no way this can be possible, but lets just see what happens. Ok so now we have you in a house with 7,000 square feet. I’m not sure you guys realize what square feet is so i’ll give you what my starter ranch was, 3 bedroom, one full bath, livingroom, kitchen, and a back porch, included in the square footage of 980. A 7,000 square foot house would be such that every room, keeping the same layout, would be as big as my ranch.