If I live in Atlanta, GA, should I get earthquake insurance offered by my insurance company?

Question

My insurance company, State Farm, is telling me my homeowners policy does not cover for earthquakes. This additional coverage isn't cheap, and I'm not sure whether I should get it. I am uncertain how far I am from a fault line, though I know there have been earthquakes in the Southeast. Any recommendations?

Answer 1

Don't spend the money. When was the last time they even had an earthquake? It's called "Ripping you off"

Answer 2

I live in Atlanta as well, and I have to tell you there is a large fault line that runs not far from us. There was a small tremor about 18 months ago (perhaps a little longer); it wasn't anything major, but it is an active fault line. Keep in mind, Atlanta is at the base of the Appalaichains, which were formed by seismic activity. Is it a major fault line (think San Andreas)? No. Is it likely there will be a catastrophic quake that will level your house? No. Is it possible there will be a tremor that is hard enough to damage your house, crack the foundation or otherwise make your life miserable? You bet. I can tell you most insurers don't offer earthquake coverage at all for large parts of Tennessee (including parts that are within 100 miles of Atlanta) because of the risk.

Chances are good you'll never need it; but if you're wrong and there's a quake, they've done due dilligence and you're more than aware that there's zero coverage for earth movement in your underlying homeowner's policy. It isn't probable, but a damaging earth quake is possible. You need to decide for yourself whether that's a risk you're going to take.

Answer 3

Keep in mind that unless you're buying an insurance product that is subsidized by the government i.e. flood insurance, or by other insureds i.e. high risk pools, the insurer is expecting to pay administrative costs, advertising, losses, and make a tidy profit from your premiums.
As the other answers indicate, GA is not an active seismic zone, so the likelihood of needing earthquake coverage is low.
Statistically, you're better off putting the extra money into savings or investments.
You can learn more about earthquakes at:
http://www.iris.edu/seismon/
http://quake.wr.usgs.gov/recent/index.html
and other sites. I would recommend the USGS

Answer 4

I live in eastern Alabama not that far from Atlanta. In my opinion there's no need to worry about earthquake insurance in this region. I suppose theres always a chance of it happening because it's an "act od God", but I dont think theres ever been any significant earthquakes here before.
Depends on if you really have the extra money for it ir not.

Answer 5

The likelihood of an earthquake in Atlanta is SLIM, which is why State Farm is offering it in the first place.

I had a house in PA, near a fault line, and I still didn't buy earthquake coverage there.

IMO, if you're not in Hawaii or on the west coast, you probably don't need to buy it. If, however, you're going to stay up at night worrying about earthquakes if you don't have it, then buy it so you can sleep.

Answer 6

Direct damages due to earthquakes are not covered under standard homeowners insurance policies. And unless you live in an area prone to earthquakes, you probably don't need it. If you do live in a part of the country with high earthquake activity you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.

Answer 7

Earthquake In Georgia

Answer 8

If you allow people to buy insurance only AFTER they realize they need it, the insurance industry will go broke immediately, and there will be no insurance for anyone. Why not allow people to go without car insurance until they have an accident? Wouldn't it be great to save tons of money by not paying for car insurance until you need it? Then, after you have an accident, you pay a few hundred dollars for a few months of coverage, get the insurance company to pay thousands for your accident, and then drop the insurance right after you get your check. Can you understand why this does not work? Under our current laws, people are allowed to pay for their healthcare needs themselves. When B0care kicks in, you will be a slave to the bureaucrats. Even if you're willing to mortgage your house, max out your credit cards, and borrow from everyone you know, you WILL NOT be allowed to get medical attention for your loved one or yourself without the government's permission. If they decide your kid is too sick to live, your kid dies. There will be no court that can force them to change their decision like there is now. That little girl that needs a lung transplant? The Feds decided that she should simply die because she's too expensive. Imagine if that were your kid and you were sitting on a million dollars. You'd have to leave the country to save her life. You will NOT be allowed to go outside the system. THAT is what we're fighting about - personal responsibility and personal choices. .

Answer 9

There have not been any major earthquakes in your area for over 100 years so insurance should be cheap compared to California. Here is some information on earthquake faults in Georgia and what to do about insurance and preparedness.

http://quake.eas.gatech.edu/Owners/OwnersGuide.htm

Answer 10

No. Atlanta isn't near a fault line.

Buying Earthquake insurance in atlanta is like Peter Griffen bying cloud insurance in that one episode

Answer 11

Most states of some seismic events, the question is will you live long enough to see a major event, where you would need to file a claim. Judgment call on your part. But the two areas you hear about the most is the West Coast and the Mississippi River Valley.