Earthquake Insurance

[Pete]

insurance is cheap

I see people pay 3-4 dollars for coffee. Went out to dinner the other day and payed 50 dollars for four sandwiches and two drinks.

400 dollars is cheap peace of mind, especially now that I paid my house off.

 

[TromboneAl]

Checking the map, we are either in or on the border of a "IX" area ("Damage considerable tin some structures built especially to withstand earthquakes; threw out of plumb some wood-frame houses built especially to withstand earthquakes....").

Liquifaction potential is high.

Since we're not in a major area, the insuring company will probably not go bankrupt if there's a major quake here.

So I guess I'll continue with it.

 

[TromboneAl]

Well, it's that time again. I bought the insurance last year. This year the premium is $555.

Our two-story wood house was built in 96 and is bolted to the foundation. The deductible is 35,000 and the limit is $235,000.

Part of me says that if I don't have insurance, and the house is destroyed, I'll just put up a small house. That is, I'll self-insure.

OTOH, we are close to some faults here in far northern California.

I'll probably cave in again.

 

[Pete]

Mine was 499 with a 37,000 deductible this year. I caved already.

 

[TromboneAl]

It's interesting that the premium has doubled, yet the coverage maximums and terms have not changed.

 

[ziggy29]

It's interesting that the premium has doubled, yet the coverage maximums and terms have not changed.

And yet some people continue to insist that we are experiencing deflation.

Now that oil is on its way back to $100 a barrel, I ask you -- what non-discretionary items aren't steadily rising in price? I see none.