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1. hammerhead
   Member Profile

   

   Did/does any one have earthquake insurance now or even have it for the last major earthquake we had. My husband and I am disagree to say the least about getting it. I want he doesn't want to spend the money on it.

   Posted 2 years ago #         

2. herongrrrl
   Member Profile

   You might check to see if you can even get earthquake coverage, depending on where you live...as it happens, we have a little USGS marker on our front sidewalk marking a fault intersection. When we asked our agent about earthquake insurance, she just laughed at us!

   Posted 2 years ago #         

3. Sue
   Member Profile

   

   We have renters insurance with State Farm, and they offered us earthquake coverage. I forget the details, but it was something like $25 a year or so - not very much. I haven't experienced any earthquakes since moving here, so can't say how well it'll work when it happens.

   Posted 2 years ago #         

4. clark5080
   Member Profile

   

   We had it then after they reported the big fault in Seattle it went sky high and Pemco stopped offering it and the company they turned it over to was like three or four times more expensive so we stopped it a couple years ago.
   Jim

   Posted 2 years ago #         

5. shihtzu
   Member Profile

   We were not able to get it through State Farm.

   Posted 2 years ago #         

6. KatherineL
   Member Profile

   My insurance agent got it for me through Lloyd's of London. It's expensive. I've always figured it would be even more expensive if my house fell down.

   Posted 2 years ago #         

7. Semele
   Member Profile

   

   When we bought our place last year I asked about EQ insurance when we got our original quote for homeowners, I think it might have been an additional $75 or something. Was worth it in my book just in case.

   Posted 2 years ago #         

8. hammerhead
   Member Profile

   

   A 'regular" insurance company doesn't offer it it. It is offered on it own. The comprehensive is like 400.00 per month. It pays for our home, land, and place to stay if the house falls down. The 10% of of policy is a killer. Like 30,000-50,000. As KathineL mentions cheaper than paying for a house that doesn't exsist.

   The government offers some type of loans too but god know I don't want to deal with what I have seen on the tv when disasters hit. I don't worry about flooding but earthquake YES.

   Posted 2 years ago #         

9. Semele
   Member Profile

   

   We got our homeowners through American Family and it does in fact have an earthquake insurance rider. It definitely is not $400 a month. Maybe for the year. It pays for our home and the items inside plus a place to stay while it's rebuilt. I just verified my insurance policy. We did not have to go through a separate company, was all part of our american family policy.

   Posted 2 years ago #         

10. hammerhead
    Member Profile

    

    I have asked for a quote and I will go from there thanks. Any more input from others would be great. It is nice to talk about something other that kittens, HAHAHAHA.

    Posted 2 years ago #         

11. acemotel
    Member Profile

    

    I had the same experience as Clark5080. Payment was at least $400/mo and the deductible was outrageous - that must be the 10%. In all these posts, the variable is where you live. Probably some people can get it for $25/year (I wish!) but for those of us in so-called liquidation zones, or straddling the major fault line in North America, the cost will be much greater.

    Posted 2 years ago #         

12. KBear
    Member Profile

    We have earthquake insurance through State Farm, but I don't think they offer it anymore. We bought our policy in 1999, before the Nisqually earthquake. The premium is not too expensive, but the deductible is something like 20% of the cost of rebuilding. Still, it's better than nothing. We also had a seismic retrofit done to our house, which should help it survive most earthquakes.

    Posted 2 years ago #         

13. Ashley
    Member Profile

    I am a new home owner and have State farm; they offered me earthquake insurance but my house had to be retro-fitted already otherwise they wouldn't cover it. I did opt to get it because it was only an extra 75-100.00 a year.

    Posted 2 years ago #         

14. Homer
    Member Profile

    

    Ashley, what is the deductible if your house does fall down due to an earthquake? That's not much for payments a year so I imagine the deductible is about 40%. Let me know though.

    I got a quote from Safeco (or whatever they are named now) and it's about $500 a year with a 20% deductible....still ouch.

    Posted 2 years ago #         

15. Ashley
    Member Profile

    Well oops it's actually 207.00 per year with a 15% deductible. My house is retro-fitted and was built in 1978. If that helps any.

    Posted 2 years ago #         

16. Sue
    Member Profile

    

    Just to clarify, mine was $25 a year, but it's renters insurance - only my belongings are covered, not land or the house. Which might be why I was able to get it through State Farm and others can't.

    Posted 2 years ago #         

17. LisaM
    Member Profile

    

    I have EI thru USAA. They sent an engineer out after the 2001 quake to do a thorough inspection for free, which I really appreciated (found out my house had been retrofitted!)
    In order to get USAA you need to have a relative or spouse who is or was in the military. They are the best IMHO.

    Posted 2 years ago #         

18. JayDee
    Member Profile

    A lot depends on how your house is secured to the foundation. Despite being in the Seattle Fault Zone (nearly dead center), my house has mid-1950s foundation. If you equip the footings with bolts or shear walls, you may be able to get a cheaper price. I didn't pay for this retrofit.
    .
    I was quoted the $400/month price 12 years ago by a Lloyds of London policy and opted out. I am betting the house won't crush me in the next 30-something years, and if it is damaged, I can pay for a re-build...At least I am in the up-thrown block (i.e. higher above sea level after the quake...).

    Posted 2 years ago #         

19. TDe
    Member Profile

    Farmers Insurance told me a couple of years ago that my house wasn't eligible because it needed a retrofit (defined to me as being bolted to the foundation). When I asked how much insurance would cost if I had it retrofit, the agent said the house was actually too old and placed too close to the edge of a hill to qualify (about a two story hill). Glad I asked. My house was built 18 years before Farmers Insurance opened for business and has survived several earthquakes just fine in it's almost 100 year existence. I guess it's like having a pre-existing health condition - just have to keep it in good repair and hang on if a big one hits.

    Posted 2 years ago #         

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