I live in California. The quote I got was $150K dwelling, $5K personal property. The deductible is $22,500 and the annual premium is $370. Is this worth it?
2006-07-19 08:05:53 · 13 answers · asked by Anonymous in Business & Finance ➔ Insurance
My house was built in the 1940s. Are the chances of foundation damage higher?
2006-07-19 08:19:11 · update #1
You would have a 15% deductible ($22500), and the insurance is not all that good if you really read into it. It is first come, first serve. So if it is a big one, they will run out of money. And the coverage is as basic as it gets, basically 4 walls and a roof. The personal property coverage is not all that much either. Judging by what is actually a low premium, you are not in a high risk area. The coverage can be attained at any time, insurance companies are required by law to offer it (they may be reluctant as they would have to cancel and rewrite the policy and provide you a new 1 yr policy). Bear in mind coverage tends to be suspended for 15-30 days if an earthquake occured anywhere close to you.
2006-07-21 05:14:25 · answer #1 · answered by XUSAAAgent 5 · 0⤊ 0⤋
It's worth it if you have more than $22,500 of damage in the next earthquake, but it's a waste of money if there is no earthquake. So how can you answer the question of whether it is worth it? It's the same as any insurance. The premiums are always a waste of money unless the bad thing happens, and then you will be very thankful that you paid them. What you get for your money in the meantime is peace of mind. Anyway, this quote sounds pretty good to me.
2006-07-19 08:11:09 · answer #2 · answered by rollo_tomassi423 6 · 0⤊ 0⤋
No its not really worth it. How long have you been living there in California? If you have been living there for a while you realize that a. earthquakes are very uncommon b. they rarely do damage anyway and c. most structures in california are retrofitted to withstand earthquakes. If you have the extra money go for it but if its gonna be a squeeze i would say to not get it. Also, unless an earthquake totally decimates your house the deductible would porbably be more than any damage done.
2006-07-19 08:10:58 · answer #3 · answered by BeachBABE 4 · 0⤊ 0⤋
Well that depends what part of California u live in, but the chances of an earthquake here in California if very little almost nothing. Why is ur deductible to high? usually the deductibles are $500.00.
2006-07-19 08:48:18 · answer #4 · answered by msantos030 1 · 0⤊ 0⤋
I recommend one to visit this site where you can compare quotes from different companies: http://insurecheap.us/index.html?src=5YALudWGK9fdB1
RE :Should I get earthquake insurance?
I live in California. The quote I got was $150K dwelling, $5K personal property. The deductible is $22,500 and the annual premium is $370. Is this worth it?
Update: My house was built in the 1940s. Are the chances of foundation damage higher?
Follow 14 answers
2017-03-19 23:26:39 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Get and compare quotes from different companies at - INSURERATES.INFO-
RE Should I get earthquake insurance?
I live in California. The quote I got was $150K dwelling, $5K personal property. The deductible is $22,500 and the annual premium is $370. Is this worth it?
2014-09-09 05:44:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
deductibles for earthquake are usually a percentage amount. If there would be an earthquake, and your house damaged, can you afford to fix it on your own?? If it wouldn't ruin you, I wouldn't buy it.
2006-07-19 09:10:30 · answer #7 · answered by Anonymous 7 · 0⤊ 0⤋
All you have to pay is $400 a year? That nothing considering a good earthquake will probably crack your foundation and/or completely destroy your house making it unihabitable by law.
2006-07-19 08:08:14 · answer #8 · answered by bombhaus 4 · 0⤊ 0⤋
that sounds pretty good, but i would definatly get it. i live in southern california and it is definatly worth it. even though there aren't earthquakes all the time, it is worth having it there as a backup
2006-07-19 08:08:27 · answer #9 · answered by ilessthanthreeyou 3 · 0⤊ 0⤋
how much is u house worth. 370 not bad deal if u house is aleast worth more than 500k
2006-07-19 08:07:24 · answer #10 · answered by Anonymous · 0⤊ 0⤋