[Michael2016]

We have homeowner insurance that does not include earthquake. I assumed it is a little risk and would be cheap to add, but now got an offer that is 3x the home owner insurance. If there was no risk, the insurance should be lower, on the other hand, is it worth adding this insurance for 3x the homeowner insurance cost?

[mstnghu2]

Earthquake insurance is usually very expensive. Honestly, I can't even imagine that there's any real risk of a major earthquake in Vegas. On a side note, most Californians don't even have earthquake insurance.

[foundapeanut]

You need a new insurance company. Looks like your broker saw you coming since you are new here. Do you have a mulitmillion dollar house sitting on a fault line.

It is cheap, Vegas is barely in earth quake zone.

The lowest deductable is $60,000.00.

Try AAA. They were $1,000.00 cheaper for us than Farmers for our whole homeowners with even better coverage. Now car insurance here is expensive.

Do not buy through an independent broker unless you have a home in the price range where regular insurance won't cover it. We used to.

We've always had it cause structual engineers and geologist buy it. Good enough endorsment for us.

[WestieJeff]

I was quoted about 50% of my homeowner's insurance cost to add earthquake with a 15% deductible.

[Code Stemi]

Perhaps earthquake insurance is a good idea for living in Las Vegas.
This quote from Wikipedia on the LV Valley:


The valley is an active earthquake zone crossed by multiple fault and thrust lines. These include the 20-mile (32 km) long Frenchman Mountain Fault capable of a magnitude 7 event, Whitney Mesa Fault, Cashman Fault, Valley View Fault, Decatur Fault, Eglington Fault and the West Charleston Fault.

[lvmensch]

Originally Posted by chahunt

Perhaps earthquake insurance is a good idea for living in Las Vegas.
This quote from Wikipedia on the LV Valley:


The valley is an active earthquake zone crossed by multiple fault and thrust lines. These include the 20-mile (32 km) long Frenchman Mountain Fault capable of a magnitude 7 event, Whitney Mesa Fault, Cashman Fault, Valley View Fault, Decatur Fault, Eglington Fault and the West Charleston Fault.

But the probability of a 7 on the Frenchman Mountain Fault in the next 50 years is 0.5% So fifty fifty in the next 5,000 years. And note it would provide at worst moderate damage in the SW, Summerlin and the NW.

********************************
A 7.0 earthquake along a known fault in the Frenchman Mountain area just east of Las Vegas would not only kill about 2,300 people, but also cause an estimated $25 billion in property damage, wreck 60,000 buildings and put 8,100 people in the hospital, he said.

Of course, the chances of such an earthquake occurring in the next 50 years are less than 0.5 percent, according to Price.
********************************

[airics]

Originally Posted by foundapeanut

You need a new insurance company. Looks like your broker saw you coming since you are new here. Do you have a mulitmillion dollar house sitting on a fault line.

It is cheap, Vegas is barely in earth quake zone.

The lowest deductable is $60,000.00.

Try AAA. They were $1,000.00 cheaper for us than Farmers for our whole homeowners with even better coverage. Now car insurance here is expensive.

Do not buy through an independent broker unless you have a home in the price range where regular insurance won't cover it. We used to.

We've always had it cause structual engineers and geologist buy it. Good enough endorsment for us.

How much are you paying for your home owners and car insurance?

For car, I pay $205 per month full coverage 4 cars
House $650 $2000 deductibles

[jet757f]

Never have had earthquake insurance even in Ca. Drywall constructed houses do very well in earthquakes. Brick not so well. So if you have a brick chimney than it might be at risk during a large earthquake.

A precaution that you might want to take if you are worried about an earthquake is to get the gas auto shutoff valves. Will shutoff your gas in the event of a large earthquake. They have Seismic and Excess Flow types.

[bayview6]

If you are worried about earthquakes, have a structural engineer take a survey and see if a retrofit would help. My house is close to bedrock and has a post-tension foundation so I think to could handle a 7 quake.

[orca17]

We have had a 5.8 since I have lived here, and all it did was wake me up at 3 AM.