Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Under contract with a house on Johns island. I’m in the process of obtaining insurance quotes. Of course I expected to see flood insurance, but to my surprise, I’m seeing the extra line item for Earthquake coverage. I’m moving from CA and thought I was leaving the high expense of earthquake insurance behind. Can locals please fill me in? Do you have home insurance with earthquake coverage?
We looked into earthquake insurance but decided to self-insure once we saw the 10% deductible - wasn't worth it for us. We had gotten a little spooked by the 50 year earthquake forecast map, but once we looked at what that means for the one year probabilities, it was like buying flood insurance when you aren't obligated to - lowers your catastrophic risk but raises your expenses.
Under contract with a house on Johns island. I’m in the process of obtaining insurance quotes. Of course I expected to see flood insurance, but to my surprise, I’m seeing the extra line item for Earthquake coverage. I’m moving from CA and thought I was leaving the high expense of earthquake insurance behind. Can locals please fill me in? Do you have home insurance with earthquake coverage?
I used to live directly on a fault line in Summerville. It runs right through Linconville Road and Miles Jameson. Every now and then we would feel a tremor. Not enough to scare the crud out of you but enough to take notice and ask what was that?
We haven't had a major earthquake in a long time, that being said, it's still always a possibility.
We live in Summerville's newer ZIP code and bought earthquake insurance. It adds only $400 per year to our extremely low house and property insurance. (Coming from south Florida, we find the rates a true delight).
Look at earthquake insurance as a game of chance. For that matter, all insurances are nothing more than protecting yourself from a big "what if?". If you can afford to gamble (your home, property, car, health, etc.), enjoy the thrill-and fears of the risk. For many of us, caution is preferred.
it’s piece of mind until you realize pretty much nothing is covered when you do get damage. Then you realize you handed over free money for years with nothing to show for it.
Years ago (decades really) when I lived on Folly, I had a friend who was a geologist and he always said earthquake insurance is a scam and that there's little chance of anything big happening through that Summerville fault. Now in recent years, the geologists seem to have changed their tune a little and feel there is a substantial chance of a large quake here.
Earthquake insurance doesn't typically cover brick veneers and at least the policies I have carry a 5% deductible. Not sure if they're going to be worth much if the big one does hit but I do think the threat is real.
Years ago (decades really) when I lived on Folly, I had a friend who was a geologist and he always said earthquake insurance is a scam and that there's little chance of anything big happening through that Summerville fault. Now in recent years, the geologists seem to have changed their tune a little and feel there is a substantial chance of a large quake here.
Earthquake insurance doesn't typically cover brick veneers and at least the policies I have carry a 5% deductible. Not sure if they're going to be worth much if the big one does hit but I do think the threat is real.
Only about 10% of Californians have earthquake insurance. It’s largely a problem for masonry construction.
I don’t think anybody doubts the threat but the payoff.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
