earthquake (Anchorage, Sterling, Hope: apartment, renters, homes)

[Inattentive]

Let's talk guakes in basic order that experts predict ( I won't even hit on prophecy
because to the clueless that God stuff provolks a mention of their favorite push
back .....religion oh please! Back to earthquakes staring with Alaska The last 9.0
occured many miles off shore in fantoms deep sea bed but I talking 9.0 just a
few miles in reatively shallow waters or a direct land epicenter the differece is
overwhelmingly significant. We are now absorbed o a few other earthguake prone
areas that could alter life as we affluencias know it . They are Yellowstone, New
Madrid, Canary Island, with two linked to volcanoes including rarely considered
in the Gulf of Mexico , Iceland . I would elaborate but I would need everyone to be waearing diapers. We already witnessed the Japan catastrophy, but that is a ripple
compared to whats on tap.

[Glitch]

Originally Posted by Dakster

What company? State Farm told me the above information.

State Farm told me that earthquake insurance would add $650 annually to my premiums, which is currently just under $1,000 annually, and there was a 15% deductible. Which meant that I would have to kick in almost $25K first, before I see a penny from insurance.

It would have to be a substantial quake (7.0 or greater) right underneath my home for it to do $25K+ worth of damage.

[Glitch]

Originally Posted by Dakster

yikes... any one else feel the earthquake... first one for me.

The vast majority of quakes are fun, in my opinion. There were only two times I can recall where the quake was not fun, but rather made me concerned.

The first time was in the mid-1990s, I was sitting in the dentists chair and a relatively small 5.3 quake hit the Anchorage area. I felt the quake before the dentist, and I had to reach up and grab his hand to stop him from putting sharp metal objects in my mouth while the quake was happening.

The second time was during the 7.9 Denali quake on November 3, 2002. I have experienced a lot of quakes in both California and Alaska. I was only 10 miles away from the San Andreas fault during the 6.6 Sylmar quake of 1971. It threw me out of my bed. However, I have never felt a quake as large or last as long as the 7.9 Denali quake. I was living in Anchorage at the time and timed it at 105 seconds. Others said that they could feel the quake for as long as two minutes.

[Glitch]

Originally Posted by DagnyT63

I'm not sure if this is the appropriate place to ask or if I should start a new thread, but I'm just wondering what kind of things I'll need to consider living in an area that gets quakes. Specifically, do local building codes provide for quakes? When house hunting, will I need to make sure a house was build appropriately? Is it difficult to get home insurance? I live in a wildfire area now and getting home insurance can really be difficult.

Building codes vary considerably, so it is impossible to say one way or the other unless we know the specific area.

Before you purchase your home, you should have it inspected by an engineer.

It will be impossible to get earthquake insurance now. At least for about six months. After every quake above 5.0 near any community in south central Alaska, the insurance companies always put a moratorium on new policies for about six months.

Once the moratorium has been lifted and you can get quake insurance, it will most likely cost anywhere from 33% to 50% more than your current insurance policy and come with a steep deductible (10% or greater).

Getting fire insurance while living in a forest is a lot easier and cheaper than obtaining quake insurance in south central Alaska.

[DagnyT63]

Originally Posted by Glitch

State Farm told me that earthquake insurance would add $650 annually to my premiums, which is currently just under $1,000 annually, and there was a 15% deductible. Which meant that I would have to kick in almost $25K first, before I see a penny from insurance.

It would have to be a substantial quake (7.0 or greater) right underneath my home for it to do $25K+ worth of damage.

Thank you, that was very helpful

Originally Posted by Glitch

The vast majority of quakes are fun, in my opinion.

I'm a bit worried about the experience, I admit!

[DagnyT63]

Originally Posted by Glitch

Before you purchase your home, you should have it inspected by an engineer.

Really? Oh wow, good to know. That's very uncommon here. Our home inspectors are fairly useless but some GC's are knowledgeable.

[Dakster]

Glitch - Sounds like whether it is 10% - 20% deductible, EQ insurance unless required to get a mortgage, isn't worth it...

GC or structural engineer is the way to go. At least what I am planning on doing before I buy a place. Worth the extra few hundred to make sure you know what you are getting into. So if it passes my limited experience inspection - I go to the experts.

[Glitch]

Originally Posted by DagnyT63

Thank you, that was very helpful



I'm a bit worried about the experience, I admit!

Wood structures, such as homes, withstand quakes very well because they can flex without breaking.

Concrete or steel structures, on the other hand, such as large buildings or high-rises, are not as flexible. In addition, those types of structures typically carry a much heavier load than wooden homes. So they are much more likely to fail during a quake than a typical home. If the quake is large enough, and close enough, you may experience some cracking in the drywall, or have to replace a few broken items that fell off your shelves. Or perhaps a couple cracks in the foundation, but it would have to be a fairly large and nearby quake for that to happen.

Of all the quakes I have experienced during the last 23 years living in south central Alaska, I have never heard of any damaged structures, or any injuries, whenever the quake was 5.0 or below. As they say, "no harm, no foul."

[Glitch]

Originally Posted by Dakster

Glitch - Sounds like whether it is 10% - 20% deductible, EQ insurance unless required to get a mortgage, isn't worth it...

GC or structural engineer is the way to go. At least what I am planning on doing before I buy a place. Worth the extra few hundred to make sure you know what you are getting into. So if it passes my limited experience inspection - I go to the experts.

Earthquake insurance is not required to get a mortgage.

Whether it is worth getting quake insurance or not I think depends on your equity. The more you have invested in your home, the more you have to lose. If you are a new home buyer, and have less than 10% to 20% invested in your home, then it is definitely not worth getting quake insurance. Just cut your losses and walk away. It will cost you less.

I agree, either a very good General Contractor or a Structural Engineer should inspect your home before you buy. I do not think it is required, unless you are buying your home using your VA benefits, but it is wise advise nonetheless. Homes are the largest single purchase most people will ever make, and it is good idea to know what you are buying before putting out that kind of money.

I had my home built in 2003, so not only was it inspected by an engineer, I got to see how it was constructed as well. I have a degree in architectural drafting, so I knew what to look for. Steve Orr Construction built my home, and they did a very good job. No corners were cut.

[DagnyT63]

Originally Posted by Glitch

Wood structures, such as homes, withstand quakes very well because they can flex without breaking.

Concrete or steel structures, on the other hand, such as large buildings or high-rises, are not as flexible. In addition, those types of structures typically carry a much heavier load than wooden homes. So they are much more likely to fail during a quake than a typical home. If the quake is large enough, and close enough, you may experience some cracking in the drywall, or have to replace a few broken items that fell off your selves. Or perhaps a couple cracks in the foundation, but it would have to be a fairly large and nearby quake for that to happen.

Of all the quakes I have experienced during the last 23 years living in south central Alaska, I have never heard of any damaged structures, or any injuries, whenever the quake was 5.0 or below. As they say, "no harm, no foul."

This makes me feel better, thanks!