Earthquake Insurance

Have you taken Earthquake Insurance for your home?

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On a practical note, all the contractors would probably be tied up tearing down and constructing so many other houses for many, many months (years?) before they would get to my house that I may just walk.  I guess this is when putting down too much will lessen your flexibility?

I do get worried since we really haven't had any earthquakes of note around here for so many years now.  All that energy building up.  I might have jinxed myself now.  :P

I remember living in Japan, they would constantly have "specials" on TV regarding when the next Great Kanto Earthquake (Tokyo and surrounding areas) would happen as it repeats every 100 years or something like that and the last one was in the early 1900s.  I remember these talks since the early 70s and I used to worry about it all the time.  There were many, many earthquakes of course, some pretty noticeable, but they weren't the "big one".  It still hasn't occurred and that one near Fukushima, which is more north, happened.

aquabliss said:
Sometimes I think that if there really was an earthquake big enough to level my house, it would take months, maybe years before society as we know it is back to a normal, functional state.  Probably to level a house you need a good 8.0 and it's probably not going to be centered in Irvine which means the damage to nearby communities would be widespread.  The power grid would be out, no running water, probably couldn't safely drive on roads, business would have to shut down before they are all reinspected and deemed safe to reenter, etc. 

By the time I get to the point where I'm ready to rebuild my collapsed home, it would be a very different environment than the current one.  Who knows if the CEA would be shut down or declare bankruptcy at this point due to insolvency with millions of claims all at once.  The prospects are actually pretty bleak I think for getting your money's worth for this insurance.  And with all that said, please excuse me while I renew my policy.
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I remember a co-worker of mine saying something similar about 20 years ago and I remember thinking that he'll regret it one of these days while I safely rebuild my house.  He's still winning and if I had put all that insurance money in Microsoft and Google or something, I would be semi-retired in the slums of SC by now.  :'(

eyephone said:
FEMA will step in and do a bail out or a loan?
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I'm thinking that also.

irvinehusky said:
I remember a co-worker of mine saying something similar about 20 years ago and I remember thinking that he'll regret it one of these days while I safely rebuild my house.  He's still winning and if I had put all that insurance money in Microsoft and Google or something, I would be semi-retired in the slums of SC by now.  :'(

eyephone said:
FEMA will step in and do a bail out or a loan?
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Early to mid 80s, when living in Japan we had a lot of big quakes.  On quite a few occasions earthquakes destroyed stuff in my home.  Usually it was just stuff falling that wasn't secure.  They were strong enough to make books fall off of bookshelves...
 
I plan on purchasing earthquake insurance when the equity is large enough, that a total loss after an earthquake would really hurt.
 
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