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Earthquake Insurance

T

TheBloodguard

Senior member
I just bought a new home in Bakersfield CA and the Home Insurance company wants $200 above the regular insurance for Earthquake Insurance. The insurance is actually through California Earthquake Authority (CEA). It's $200 per year(?) but the deductible is $37,000.
I'm wondering if I should get it and would appreciate your thoughts. Does the South part of the U.S. have something similar as an extra insurance charge but instead of Earthquake, it's Hurricane Insurance?
 
I heard an interesting statistic from a prof the other day. According to him, in disasters those without insurance get more benefits than those with insurance.
 
Originally posted by: venk
37K deductible? :Q :Q :Q
Click to expand...

Yeah, it sounds fishy but it's on the up and up. I figure the chances are that the home
will not suffer that much since it is an one story new home with no bricks or masonry.
Bakersfield had a big quake back in 1952 but I think the odds are on my side if I don't get the insurance
 
bakersfield is not a major earthquake prone area. you've got good distance between you and the major faults. i took an earthquakes college course, and the professor (whose sole field of research is earthquakes) said insurance is pretty much a scam and not worth it even for those of us in CA.
 
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