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Old 12-05-2007, 11:19 AM
1,229 posts, read 3,234,750 times
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We live within a half mile of the Hayward Fault in the Bay Area, so EQ insurance makes sense. Yeah, the deducible is high, but the prospect of our seven figure house falling apart with no insurance is out of the question. Monterey, on the other hand, doesn't seem to be in a major EQ danger zone. Don't think I would pay for it there.
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Old 07-08-2009, 11:45 PM
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We figure the deductible is a small price to pay to get the house replaced should a big enough earthquake happen
If a big enough earthquake happened you wouldn't have to worry about the ins co replacing it because they'd all declare bankruptcy. You think they're in business to pay claims????
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Old 07-08-2009, 11:54 PM
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If monterey hills indicates low probability/suseptibility to earthquake damage, it would be reflected in the annual cost.
I disagree. For insurance co's, just putting California and San Andreas Fault in the same sentence for them means $$$$$$$$$$$$'s for earthquake insurance premiums for the customer . It's just the nature of the beast (the insurance con's, I mean--certainly I wouldn't insults real animals by comparing them to insurance con's--I mean co's.
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Old 07-09-2009, 03:36 PM
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Originally Posted by DMenscha View Post
Looking at a historical earthquake map of California it doesn't appear that the Monterey peninsula is subject to very many earthquakes at all and there are no major earthquakes on the map in that area. (4.0 and higher) I don't know what the Loma Prieta quake experience was in Monterey, but I suspect it didn't do any damage in the area.

You may want to not purchase that insurance at all.

Here is the shake map from Loma Prieta

Shakemap ncLomaPrieta
A 7.0 on the San Andreas at San Juan Bautista or offshore on the Hosgri would be very damaging to Monterey. Don't be fooled.

To answer the OP's question, Earthquake insurance is something you don't need ... until you need it.

I suppose if you had some seed money to play with you could self insure and probably outdo the insurance companies in yield if you micromanaged the funds. "Could" being the key operative.

Interesting your quotes from standalones are less than the company you get your homeowners from, you should challenge them with those lower quotes.
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Old 07-11-2009, 08:34 AM
Location: So Ca
26,554 posts, read 26,359,970 times
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Originally Posted by Winston Smith View Post
After the '94 Northridge quake, I heard too many sad stories from people without earthquake insurance...
...me, too. I was a teenager during the 1971 Sylmar quake and even though my family lived in the San Gabriel Valley, we definitely felt it. We've had earthquake insurance through Allstate since the mid-1980's. The policy is lower since they also carry our homeowner's.
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