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Old 09-05-2014, 03:43 PM
 
16 posts, read 14,781 times
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First time home owner, not sure is it necessary to buy it.

Thanks.
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Old 09-05-2014, 04:13 PM
 
Location: New-Dentist Colony
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No.
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Old 09-05-2014, 04:33 PM
 
Location: Arlington, VA and Washington, DC
23,628 posts, read 33,408,180 times
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I would if it was super cheap. Significant earthquakes may never happen in VA but if a big one hits here, nothing will be left standing I believe. I don't think anywhere East of the Mississippi has building codes that would leave most buildings standing in care of earthquakes.
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Old 09-05-2014, 05:17 PM
 
Location: Colorado Springs
89 posts, read 103,709 times
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I do not. No flood insurance, either. I'd be more inclined to get the flood before the earthquake, if I were to get either.
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Old 09-05-2014, 07:52 PM
 
16 posts, read 14,781 times
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Quote:
Originally Posted by The Dissenter View Post
I would if it was super cheap. Significant earthquakes may never happen in VA but if a big one hits here, nothing will be left standing I believe. I don't think anywhere East of the Mississippi has building codes that would leave most buildings standing in care of earthquakes.
How much can you consider "super cheap"? Mine is about $60 per year.

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Old 09-05-2014, 09:21 PM
 
1,784 posts, read 2,989,961 times
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Originally Posted by VA888 View Post
How much can you consider "super cheap"? Mine is about $60 per year.

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I don't own any, but that's about $55 more a year than I'd be willing to pay.
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Old 09-06-2014, 05:31 AM
 
Location: Arlington, VA and Washington, DC
23,628 posts, read 33,408,180 times
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Quote:
Originally Posted by VA888 View Post
How much can you consider "super cheap"? Mine is about $60 per year.

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That'd be what I call cheap.
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Old 09-06-2014, 09:58 AM
 
1,197 posts, read 1,829,507 times
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Virginia has not had a magnitude 6+ earthquake in recorded history. You don't need earthquake insurance. Keep in mind that you still have the pay the deductible before even getting to the insurance.
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Old 09-06-2014, 10:14 AM
 
Location: New-Dentist Colony
5,740 posts, read 8,967,707 times
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Quote:
Originally Posted by The Dissenter View Post
That'd be what I call cheap.
Over the course of 30 years, that's $1800. With interest compounded annually at 8%, that comes to $6,352,447.29. Give or take. Math and I don't get along.

Last edited by Carlingtonian; 09-06-2014 at 10:40 AM.. Reason: Does this make the joke more obvious?
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Old 09-06-2014, 10:23 AM
 
16 posts, read 14,781 times
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Originally Posted by Carlingtonian View Post
Over the course of 30 years, that's $1800. With interest compounded annually at 8%, that comes to $635,000. Give or take. Math and I don't get along.
8%?

Even if 8%, How can it turn $1800 to $635,000 in only 30 yrs? Remember we pay the insurance annually, we do not pay 30 yrs of earthquake coverage upfront.
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