U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California > San Jose
 [Register]
Please register to participate in our discussions with 1.5 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.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 02-08-2013, 03:50 PM
 
748 posts, read 1,042,450 times
Reputation: 627

Advertisements

I just found out we don't have earthquake insurance. Should we get it? I got a quote from my insurance broker - about $2000 per year BUT with a $90,000 deductable. Is earthquake insurance necessary? Or is it a scam?
Reply With Quote Quick reply to this message

 
Old 02-08-2013, 03:58 PM
 
Location: Silicon Valley
2,580 posts, read 4,358,406 times
Reputation: 1503
Quote:
Originally Posted by easybay View Post
I just found out we don't have earthquake insurance. Should we get it? I got a quote from my insurance broker - about $2000 per year BUT with a $90,000 deductable. Is earthquake insurance necessary? Or is it a scam?
Very few people buy it, AFAIK.

I figure, as long as the house survived the Loma Prieta quake in 1987 w/o damage, it's probably going to still be standing after the next big one. That said, I wouldn't buy in the immediate vicinity of the Calaveras fault.

If you're worried, check out the USGS maps for liquefaction(sp?) zones. My cousin won't buy any house in the Bay Area unless it's on bedrock. You can check that on the USGS maps too.
Reply With Quote Quick reply to this message
 
Old 02-09-2013, 02:37 AM
 
Location: San Jose
894 posts, read 1,352,804 times
Reputation: 723
Yes, I carry earthquake insurance. I pay $1500/year for $415k coverage with a $62k deductible. It also includes some miscellaneous coverage such as $10k for loss of use. It's not extremely likely that I'll need to use it, but if the big one levels the house, I'd rather be out $62k than the whole enchilada.
Reply With Quote Quick reply to this message
 
Old 02-09-2013, 10:58 AM
 
748 posts, read 1,042,450 times
Reputation: 627
Mines going to be $2400/yr for $600k coverage with a 60K deductible, 10K for loss of use and 25K replacement of items. Ok, I can now add this to my list of why it's more expensive to live here.....

Quote:
Very few people buy it, AFAIK
My insurance agent says he's sold more earthquake insurance in the last 2 years than in the previous 7 - just due to all the earthquakes around the world.
Reply With Quote Quick reply to this message
 
Old 02-09-2013, 11:53 AM
 
6,805 posts, read 1,458,601 times
Reputation: 1911
If I lived up there I would and I'm an insurance adjuster.

When I was a kid my dad dragged me down to Coalinga to work earthquake claims with him (I was very good at holding the end of the measuring tape).

Those people seemed happy they had earthquake insurance.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > San Jose
Similar Threads
View detailed profiles of:

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top