'quake insurance (San Diego, El Cajon, Fortuna: renters, loan, neighborhood)

[bloom]

Is is worth it to add this to one's tenant's / renter's insurance policy in SD ?

[kettlepot]

Why would anyone need quake insurance? If a big one hits there will be plenty of free gov'mint money handed out. Just make sure we get some women on TV crying and the money will flow like tears from Tammy Faye's mascara blighted eyes.

Seriously, I don't have it, as a "Big One" is very unlikely here in San Diego. As for the lesser-sized quakes the deductibles on the insurance are so huge, moderate quakes would never reach the threshold of damage that would result in a payout.

[bigcaat]

Originally Posted by kettlepot

Why would anyone need quake insurance? If a big one hits there will be plenty of free gov'mint money handed out. Just make sure we get some women on TV crying and the money will flow like tears from Tammy Faye's mascara blighted eyes.

Seriously, I don't have it, as a "Big One" is very unlikely here in San Diego. As for the lesser-sized quakes the deductibles on the insurance are so huge, moderate quakes would never reach the threshold of damage that would result in a payout.

That is so naive.

A "big one" is very likely in San Diego, it sits on several large faults, and money is not freely handed out by the government after quakes. After the Northridge quake, my mom got $20,000 loan -- it cost her $100,000 to fix the house.

Yes -- GET earthquake insurance.

After extensive research, I went with this company. You will have to see if they cover renters, and what areas in San Diego they cover, however.

Pacific Select
(stand-alone earthquake policies)
1-800-774-1012
www.pacificselect.com (broken link)

After our last quake, The San Simeon Quake, they called us, to see if we needed to file a claim. Fortunately, we lost little enough that we didn't need them. Myself and my family having been in several large quakes, (there's a difference between being in one, and just feeling one) I hope we never do.

Good luck, and I hope you never have to use it.

Caat

[waterboy1]

not worth it especially on a renters policy

[Sampaguita]

I didn't know you could get quake insurance anymore. When I tried to quake insurance (renter's policy), it was just after Northridge and no one was offering it.

We do not have quake insurance on our HO policy. My understanding is that the premiums & deductibles are so high that they are not worth it when compared to the probability of a big quake in SD. I honestly don't know anyone in our neighborhood with earthquake insurance and none of our close friends have it either.

[NYSD1995]

Originally Posted by Sampaguita

I didn't know you could get quake insurance anymore. When I tried to quake insurance (renter's policy), it was just after Northridge and no one was offering it.

We do not have quake insurance on our HO policy. My understanding is that the premiums & deductibles are so high that they are not worth it when compared to the probability of a big quake in SD. I honestly don't know anyone in our neighborhood with earthquake insurance and none of our close friends have it either.

When I looked at it they wanted $1000/mo for the premium!

[Sampaguita]

Sass - I was kind of dismayed that we didn't have earthquake insurance until my husband and the other neighborhood husbands informed us "nervous" wives what the premiums were. Too rich for us!

[kettlepot]

When I looked at Earthquake insurance the premium was about the same as fire insurance but the deductible was 50k. That was over a decade ago. I'm sure that by now, the deductible would be be at least 75k. A payout would require an earthquake of the size that San Diego just doesn't seem to get.

Anyone know the last time San Diego had a 6.5 or greater earthquake? LA gets them every 10-20 years. San Diego? Probably hasn't had one like that in a century or more. Not while I've been living here, and the news has never had any retrospectives about the "Big One" of 1917 or whenever.

And Sampaquita, welcome back. Haven't seen you posting in the SD forum for quite some time.

[Sampaguita]

Hi, Kettlepot - thanks for the welcome back! Lots going on in our neck-of-the-woods. We're preparing for the arrival of TWINS in late March/early! LOL - we weren't expecting 2 at once. I'm not sleeping very well & DH keeps telling me to get used to it. (nice)

Have you seen the progress on 54th & El Cajon? Looks like the only tenants so far are still H&R Block.

[NYSD1995]

Originally Posted by Sampaguita

Hi, Kettlepot - thanks for the welcome back! Lots going on in our neck-of-the-woods. We're preparing for the arrival of TWINS in late March/early! LOL - we weren't expecting 2 at once. I'm not sleeping very well & DH keeps telling me to get used to it. (nice)

Have you seen the progress on 54th & El Cajon? Looks like the only tenants so far are still H&R Block.

It looks like they are almost done. Planting is finally going in on the medians too, those should look nice when they are done.