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Joe Bonamassa Forum → Off Topics → Southland Shaker
Tell me something..... What's house/property insurance costs like .... living in the area you do ??
Thanks!
~ Brack ~
Homeowners insurance doesn't cover earthquake damage. A separate policy must be purchased for that. Acts of God are excluded from most insurance here. Flooding too is excluded. Interestingly, If your home is damaged by wind from a hurricane, it is covered. If the storm surge or heavy rain causes the damage, you are not.
Rick
Homeowners insurance doesn't cover earthquake damage. A separate policy must be purchased for that. Acts of God are excluded from most insurance here. Flooding too is excluded. Interestingly, If your home is damaged by wind from a hurricane, it is covered. If the storm surge or heavy rain causes the damage, you are not.
Rick
Thanks Rick for that...
So, is Earthquake insurance costly where you live ? I presume it is!
RickB wrote:Homeowners insurance doesn't cover earthquake damage. A separate policy must be purchased for that. Acts of God are excluded from most insurance here. Flooding too is excluded. Interestingly, If your home is damaged by wind from a hurricane, it is covered. If the storm surge or heavy rain causes the damage, you are not.
RickThanks Rick for that...
So, is Earthquake insurance costly where you live ? I presume it is!
Not too costly Brack, but a loser's game, like purchasing a lottery ticket. Serious earthquakes are infrequent and if the really big one occurs, the popular consensus is that government will step in with free money to fix everything. Ah yes, free money, the mother's milk of political power..... 
Rick
From what I have been able to find out, the annual premiums on earthquake insurance are about $3,000.
The real issue is that the deductable is about 30% of the value of your home.
So.. you get to pay $3K every year then have a deductable of around $90K on a $300K home (and $300K doesn't get you very much in SoCal). If you live near the coast, which I don't, the home values are double to tripple that amount
Most folks don't have the $90K - $300K deductable and don't have earthquake insurance, including yours truly.
A quake big enough to trigger the insurance would more than likely bankrupt the insurance companies anyway.
It's a gamble, but there's big downside even if you have insurance.
Seriously, that's insane! Insurance is one big rip-off. But if you live near a major fault line.... what do you do ???
~ Brack ~
didn't really want to start a new topic, but we were reminded Sat of how violent mother nature can be. I have read many posts about the earthquake and the volcanic ash fallout in UK/Europe, and felt much concern for what you guys have gone through. I watched severe weather Saturday from 8:30AM until the sirens went off again at 10:30 PM. I am reminded we are not immune, this is our wonderful tornado season. we managed to dodge a few bullets here in Tuscaloosa - Birmingham, however they had forcasted a 9/10 chance for an EF3 or greater. this makes for some fun TV viewing, James Spann is the premier severe weather broadcaster in the southeast, but it's hit and miss with their storm trackers. the people in Miss were not so lucky, there is almost nothing you can do with an EF4 that's a half to 3/4 miles wide, except pray. from here to the end of May will be interesting, there will be more. if you are bored one day and want to catch some live feed in an outbreak, go to abc3340.com and link to current severe weather coverage, there is some good comedy to be had. just the weather abbreviations will make your head spin. we started mimicking James at times using Jerry Seinfeld's voice, my side hurt.
I'll take our quakes any day over living in Tornado Country. I feel for you brother. The wife is from Minn. where there are less of them, but told tales of running for the cellar and cowering in fear. They are so random that you can never prepare, just pray they miss you.
Rick
didn't really want to start a new topic, but we were reminded Sat of how violent mother nature can be. I have read many posts about the earthquake and the volcanic ash fallout in UK/Europe, and felt much concern for what you guys have gone through. I watched severe weather Saturday from 8:30AM until the sirens went off again at 10:30 PM. I am reminded we are not immune, this is our wonderful tornado season. we managed to dodge a few bullets here in Tuscaloosa - Birmingham, however they had forcasted a 9/10 chance for an EF3 or greater. this makes for some fun TV viewing, James Spann is the premier severe weather broadcaster in the southeast, but it's hit and miss with their storm trackers. the people in Miss were not so lucky, there is almost nothing you can do with an EF4 that's a half to 3/4 miles wide, except pray. from here to the end of May will be interesting, there will be more. if you are bored one day and want to catch some live feed in an outbreak, go to abc3340.com and link to current severe weather coverage, there is some good comedy to be had. just the weather abbreviations will make your head spin. we started mimicking James at times using Jerry Seinfeld's voice, my side hurt.
I'll take our quakes any day over living in Tornado Country. I feel for you brother. The wife is from Minn. where there are less of them, but told tales of running for the cellar and cowering in fear. They are so random that you can never prepare, just pray they miss you.
Rickahsmith33 wrote:didn't really want to start a new topic, but we were reminded Sat of how violent mother nature can be. I have read many posts about the earthquake and the volcanic ash fallout in UK/Europe, and felt much concern for what you guys have gone through. I watched severe weather Saturday from 8:30AM until the sirens went off again at 10:30 PM. I am reminded we are not immune, this is our wonderful tornado season. we managed to dodge a few bullets here in Tuscaloosa - Birmingham, however they had forcasted a 9/10 chance for an EF3 or greater. this makes for some fun TV viewing, James Spann is the premier severe weather broadcaster in the southeast, but it's hit and miss with their storm trackers. the people in Miss were not so lucky, there is almost nothing you can do with an EF4 that's a half to 3/4 miles wide, except pray. from here to the end of May will be interesting, there will be more. if you are bored one day and want to catch some live feed in an outbreak, go to abc3340.com and link to current severe weather coverage, there is some good comedy to be had. just the weather abbreviations will make your head spin. we started mimicking James at times using Jerry Seinfeld's voice, my side hurt.
We were told, the recent Icelandic volcano was just a dress rehearsal for the big one that's lying next to it.... and it's over due...!!
Lets see... Hurricanes & Tornado's vs. Earthquakes, Wildfires & Mudslides.
Kind of like asking if I would rather be shot or hung.
Having grown up in the South and now living in CA, I've expereicned, or seen firsthand, all of the above.
Been in CA 11 years and have had 2 Eqrthquakes 7.0 or larger in that time frame, and they are over in a minute or so so I guess I would take this over the hurricane/tornado scenario.
Good point. I have lived through 10 devastating hurricanes, countless tornadoes, and storm surges since 1954.
All of them lasted days...
Deal! The game is on.
Good point. I have lived through 10 devastating hurricanes, countless tornadoes, and storm surges since 1954.
All of them lasted days...Deal! The game is on.
gentlemen, I believe we have a winner, at least until the next disaster comes around. were you there for Andrew? that's the one that changed all of the south Florida building and life safety codes, also known in my commercial door world as 'DADE COUNTY LABEL'. those storm surges are the beast. I see where they are forecasting a worse than normal season this year, possibly 2 or 3 biguns.
I was in Miami when Donna hit. 1960. I was in Miami when Andrew hit. 1992...
All the videos and photos, horrific as they were, did that devastation no justice; not even close. $25 billion in South Florida alone in damage. One of the smaller weather stations south of me could NOT give wind speeds because at 207 mph the instruments blew off the building and the poured concrete roof came down and blew all the walls out.
Yeah katrina was bad, but...
In 2004, I was in Central Florida for the quadruple bypass: Charley, Frances, Ivan & Jeanne, which rained for so long the swamp was over the bank in back and the streets were under 2 ' of water in front. I have pictures of my kids and neighbors canoing in that mess.
We didn't have power for a long time...
Yeah Smitty. Dade County Label 
MuchMemories
BigJeff
I was in Miami when Donna hit. 1960. I was in Miami when Andrew hit. 1992...
All the videos and photos, horrific as they were, did that devastation no justice; not even close. $25 billion in South Florida alone in damage. One of the smaller weather stations south of me could NOT give wind speeds because at 207 mph the instruments blew off the building and the poured concrete roof came down and blew all the walls out.
Yeah katrina was bad, but...
In 2004, I was in Central Florida for the quadruple bypass: Charley, Frances, Ivan & Jeanne, which rained for so long the swamp was over the bank in back and the streets were under 2 ' of water in front. I have pictures of my kids and neighbors canoing in that mess.
We didn't have power for a long time...
Yeah Smitty. Dade County Label
MuchMemories
BigJeff
Edit: THE MAIN weather Service Radar also was destroyed by Andrew! That radar was in need of an update anyway! It was the first WSR-57 (National Weather Service Radar) ever installed. 33 years of service. All above and more for me AHSmith!
Rock ON & Keep the Faith,
Rocket
"Yep, a winner BJJ. I lived on Guam for two years in the service and that was ground zero for typhoons. We had six while I was there and luckily, no big ones. They get a 200+ blow about every ten years. All the houses are built like bunkers.
Rick
One day a month or more after Andrew I was rolling through a "well to do" 'hood. Somebody had painted a plywood sign that said, "For rent! Room with a view."
When I looked back at the house the entire second story was gone and there was a bed & dresser and a mirror on the wall, easily visible, in what was left of a bedroom upstairs.
MuchHumor 
Doc
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