Is it good to have earthquake Insurance for Home?

Question

We just had an earthquake yeasterday, nothing happened to my house but they say there is going to be a big one in the future so should i get earthquake insurance or i should not? because i just bought the house and the economy is bad so money is kind of tight so please give me some ideas?

Answer 1

Yes, it is worth it.  A little known fact is that Californians do not have the Earthquake Authority as their only choice for quake insurance.  There are other companies, like Fidelity and Pacific Select which not only offer better and more coverage but lower deductibles.  I had quake insurance during the Northridge and Whittier Narrows quake through the Earthquake Authority and though I had coverage, the deductible was ridiculous.  With my new policy, I have a much lower deductible and could actually rebuild my home with the coverage I have if it were a total devastation.  Even if I just have losses, I'm better covered.

Answer 2

oh yes u should, am guessing u live in California?? right?? the insurance will give u money for the damage of your house so am thinking u should. and i also live in california and i have insurance

Answer 3

Isn't it required in some areas?  If not, it should be.  We are required to have hurricane insurance in Florida and other states where hurricanes are possible.  Check with your insurance company.  If you are carrying a mortgage it may be included in your mortgage payment.