This is a question I’ve struggled with over the years and have posted about in the past. I’ve gone back and forth on whether I should have earthquake insurance. A few years back, I decided that the odds were against me and I bought some. The premiums are $370 per year which is not that bad for a $315,000 house.
A few things help me keep the price down. My house is on a level lot, it’s pretty much all wood and is newer construction that incorporates a lot of the more current earthquake reinforcements.
What brought this up for me again is CNNMoney has an article that talks about who should consider getting the coverage. Since I live in the “RED” zone (Pacific Northwest), it just reinforces my decision to have earthquake insurance. There is no question that we will have a large earthquake here. The only question is when. Paying $370 per year gives me the peace of mind that I can put my house back together if we have the “big one”.
Check out the map and see if you live in a hot zone.
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