Is Earthquake Insurance Worth the Cost? - II

john's picture

Two interesting stories today, one in the Sacramento Bee newspaper, and the other on Reuters.  The consumers quoted in the stories do not think insurance is worth the cost.  The providers of insurance urge more people to sign up.  What most people also don't realize is that no reimbursement for loss of contents will occur until after the deductilble on the structual damage is met. And the coverage for many types of structural damage is also limited, as explained here.

To find out how much you might reduce your damage and loss, use the home damage estimator on this site.  After you enter your home details, and place an earthquake (the red icon) nearby, click the Create Report button.  A damage estimate will appear, based on the assumption that your house met the seismic building code at the time it was built.  Then, to deterimine how much you might save in damage and loss by bringing your house up to the current code, do the following. 

Go back to the screen where you entered your home information, and instead of the construction date, enter today's date.  Then go back and click on the Create Report button.  The difference between the two estimates for damage and loss due to the assumed earthquake is the amount you could save by seismically retrofitting your house.

Comments

Megan Falls's picture

I think this information about mymathdone.com/ is really worthwhile. As you have earthquake insurance of your house than in any mishap you are liable to get the amount of this loss. So I think this is a really healthy deal that you are getting compensation for your loss. Thanks for making people aware.

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