People who live in California live in an earthquake zone is earthquake insurance very expensive. Is earthquake insurance required by law? or is it just good sense to have insurance just incase.
2007-03-06 12:02:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Insurance
I lived in the San Francisco Bay Area for 15 years and was a Commercial Lines Insurance Agent there.
No, it's not required. In fact, more people DON'T have it than do. I was an agent and I didn't carry it on my own house. It's fairly expensive.
The million dollar houses perched on the sides of hills are the ones that want it. They have the most risk and also pay the most for coverage. Some of them are perched so precariously on the sides of hills, they can't even get insured as no one will write the coverage.
The average homeowner does not carry it.
2007-03-06 12:33:48 · answer #1 · answered by Faye H 6 · 1⤊ 0⤋
I might suggest you to visit this website where you can compare quotes from different companies: http://COVERAGEDEALS.NET/index.html?src=2YApur1Ru4ud
RE :I am curious I was wondering how expensive earthquake insurance is?
People who live in California live in an earthquake zone is earthquake insurance very expensive. Is earthquake insurance required by law? or is it just good sense to have insurance just incase.
Follow 4 answers
2016-09-11 21:18:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is not required and the price varies by how far away you are from a fault line.
And yes, it is cost prohibative, most people do not carry it.
Our construction requires everything to be pretty solid, so vey few people actually ever have any damage.
I am building a house right now, and I swear, if there was anyway to disconnect it from the foundation (impossible!) it would roll down the mountain completely intact! Everything is bolted, welded, and then bolted some more. I also have 2 35 foot tall heavy steel beams in the front.
Fire is a bigger threat in CA then earthquakes.
2007-03-06 12:12:57 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I don't believe it's required, but, it's almost a necessity if you plan on residing here in California. We recently remodeled our house, and the contractor said that insurances are moving to require everyone who has earthquake insurance to have his/her home retrofitted (bolted to the foundation) for earthquake safety. You can find more info from the California Department of insurance
http://www.insurance.ca.gov/0100-consumers/0060-information-guides/0040-residential/earthquake-insurance.cfm#offer
2007-03-06 12:12:37 · answer #4 · answered by C. J. 5 · 0⤊ 0⤋
I suggest you to try this website where you can compare quotes from different companies: http://insurecheap.us/index.html?src=5YAxnu68umH27deW1
RE :I am curious I was wondering how expensive earthquake insurance is?
People who live in California live in an earthquake zone is earthquake insurance very expensive. Is earthquake insurance required by law? or is it just good sense to have insurance just incase.
Follow 6 answers
2017-03-21 10:39:33 · answer #5 · answered by ? 6 · 0⤊ 0⤋
It is added on to your homeowners policy. It is not required by law, but is a very good idea to have. The price varies greatly though from company to company. You may want to try a website that compares multiple companies at once to get you the best price. I am paying less than ½ after I did.
Go to: http://www.insureme.com/landing.aspx?Refby=616162&Type=home
Take care,
Casey
2007-03-07 04:55:52 · answer #6 · answered by Anonymous · 1⤊ 0⤋