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San Bernardino and Riverside Counties The Inland Empire
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Old 03-06-2009, 11:20 AM
 
30 posts, read 183,772 times
Reputation: 29

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Waste of money or wise investment?

I'm buying my first home in Lake Elsinore and was wondering if I need it? Do you have it? What % of homeowners in the area do you estimate have it?
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Old 03-06-2009, 04:42 PM
 
Location: Apple Valley Calif
7,474 posts, read 22,873,960 times
Reputation: 5682
I have never had it. it's way to expensive and the coverage is very poor. The deductable is very high. They don't pay until after to cost exceeds a certain amount, and that amount is very high.
The insurance companies are required to offer it to you, but I wouldn't do it unless you have money to throw away...
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Old 03-12-2009, 10:01 AM
 
Location: Westchester, CA
4 posts, read 9,334 times
Reputation: 10
Default Nope

I was told don't get it. The deductible is high, but I guess if your house is flattened you would wish you had it.

I guess the idea is if an earthquake is that big there will be federal funds available to help rebuild. Although that may not be a great thing to bank on.
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