Earthquake home insurance policy

[inactive]

Yeah, I am really ripping people off.

C'mon man, you know I meant that lovingly!

 

[inactive]

Do you all really need quake insurance? I know you've have some earthquakes lately but not really much to worry about, IMO. My house is in the ot bed of earthquake faults. Our home was built in 1959 and was not built to withstand earthquakes like the are now and we have never had a problem while past quakes have maybe cracked some drywall around the widow openings nothing bad has happened.

Aren't your new homes in OK built to with stand higher wind loads than than normal? We have looked into getting the quake ins and the costs is about $600/year . One interesting thing I found out when speaking with the insurance gal was that if we had a big enough earthquake to really do damage to the house and during the damage a gas line broke and caught the house on fire it is the standard homeowners policy that would pay and not the quake coverage.

Thing is that here in OK, the geology is such that the shakes travel much further away from the epicenter than in California. The quake that hit central OK November 6 2011 (the one that was televised on the OSU/K-State game) caused cracking in my garage floor, driveway, and walls. It was a 5.6 but I was some 80 miles away and still got damage. Also our homes here aren't built with any earth movement like this in mind, which is different from the wind/debris damages, so they're pretty susceptible to damage from the quakes.

It is a gamble though because as you mention they may or may not happen frequently enough for it to be worth the coverage. Personally I don't have it as I don't think it to be any more a risk than the inherent vice of my 1962 home's naturally settling.

Edit: To the OP, per the OID the state’s top five carriers for residential earthquake insurance are:

Travelers Group
American International Group
State Farm Group
Zurich Insurance Group
Liberty Mutual Insurance Group

It's worth noting that Farmers is a subsidiary of Zurich, so a Farmers agent may or may not have information on coverage; I don't think Zurich write any personal lines auto or property here in the US as to not compete with Farmers (they're commercial only AFAIK). Travelers and AIG are commonly written through Independents, so you'd start there for getting quotes on those two companies.

 

[Danny Tanner]

What the hell good does it do if you exclude brick?

All you insurance peeps a fargin crooks man.

That's like Allstates crap, we will fix the damage from the roof leak, but we wont fix the roof.

Where is the logic in that.

Crooks, all of ya's.

Keep it up and eventually you'll piss off every last person who would have otherwise been your only hope of rescue from the windowless van in which you're bound and blindfolded on a destination to your new social assignment experiment facility.

 

[cichlid-dave]

As for insurance being "crooks" it's just a legal form of gambling in my opinion. In the last few years most people have been winning that gamble though....substantially.Anyway i'm just trying to help, not get in a debate.

Hey I hear ya!!! Been in the business for a few years myself and you stole my statement about insurance. It's just more regulated than gambling and the house does not always win. Also like any casino you don't have to buy house insurance of you own it free and clear.

 

[Boehlertaught]

We have it through Farmers. About $100 per year for our place.