CA home owners: do you buy earthquake insurance? (stucco, construction, deductible)

[kookooroo]

Is it worth it? Would you recommend it? I just got a quote between $200-400 a year to insure a $850k home that I will have significant equity in. I'm asking because if the earthquake causes a gas leak and my house burns to the ground, my homeowners insurance will kick in according to the insurance agent.

[2tall]

If it was an older home, made of brick/etc and in SF I might consider it.

[Wry_Martini]

That quote seems a bit low; most people I know pay more than that for earthquake coverage.

[T. Damon]

The quote seems way low, also the deductible on most policies is 10s of 1000s of dollars. I have a very old stucco on wood frame house of similar worth and equity that seems to take the frequent minor earthquakes very well, and live in an area that is miles from major faults (though, as it turns out I'm right on a minor one, inactive for 1000s of years) so, no earthquake insurance for me.

As you correctly mention, if it burns after an earthquake you are probably covered so I'm thinking my home would suffer that kind of fate if it had to.

[kookooroo]

Would you recommend it if the house is a new construction in south OC?

[T. Damon]

You are quite a ways from from earthquake faults of any significance and your home will be bolted to its foundation as well as having shear panels per codes adopted years ago so it should be able to take the infrequent minor temblor with no issues so, I wouldn't. But if you can get decent coverage $200-400 a year it may be worth it for peace of mind. I would be more worried about landslides if the house were on steep hillsides, but then you are SOL if that happens.