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~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE

 
Anonymous Coward
User ID: 1482432
United States
08/25/2011 04:58 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
I live in the midwest and though per the ratings I am in a "low" risk area I bought EQ insurance shortly after I bought my house years and years ago. My deductable is $5000, though with the recent quake I do need to check my policy and with the agent to make sure it wasn't changed over the years (yep ... I am like most people, I ignore all those inserts they send with the renewal every year!)

I have only had one claim in my many years ... but it was for an entire new roof for the house, which cost the company about 10-12 years worth of premiums. Homeowners Insurance is the best insurance deal out there ... I wouldn't be without it!!
Anonymous Coward
User ID: 1520501
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08/25/2011 04:59 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Our family owns an insurance agency in Kansas city, Missouri.

YES you MUST get EQ insurance as an additional rider on our policy, and although KC is quite a distance from the New Madrid fault, our family has faithfully paid the EQ premium, food premium as well for the last 20 years.

It is not expensive unless you are directly in an EQ area on the gvt. maps - and so worth it, as the quake on the east coast shows this week.

Most people are unaware that even with most hurricane policies, FOOD damage is not covered, you have to have a sep. rider for flood insurance coverage, this was what was so hard for many of Katrina victims, they had hurricane coverage, but not water damage - so they were only covered for what they could prove the WIND did, not the storm surge.

I advise everyone to CHECK YOUR POLICY, call your agent and ask them, are you covered in case of EQ, flood/water damage, wind damage, hurricane etc...

yes it is expensive but in these times, the earth changes are intensifying, and it is better to prepare and pay the coverge for the next couple of years, than to lose everything.

Take care,
E
Anonymous Coward
User ID: 1520501
United States
08/25/2011 05:01 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
OOPs I meant FLOOD damage in the post below... not FOOD damage! LOL

Our family owns an insurance agency in Kansas city, Missouri.

YES you MUST get EQ insurance as an additional rider on our policy, and although KC is quite a distance from the New Madrid fault, our family has faithfully paid the EQ premium, food premium as well for the last 20 years.

It is not expensive unless you are directly in an EQ area on the gvt. maps - and so worth it, as the quake on the east coast shows this week.

Most people are unaware that even with most hurricane policies, FOOD damage is not covered, you have to have a sep. rider for flood insurance coverage, this was what was so hard for many of Katrina victims, they had hurricane coverage, but not water damage - so they were only covered for what they could prove the WIND did, not the storm surge.

I advise everyone to CHECK YOUR POLICY, call your agent and ask them, are you covered in case of EQ, flood/water damage, wind damage, hurricane etc...

yes it is expensive but in these times, the earth changes are intensifying, and it is better to prepare and pay the coverge for the next couple of years, than to lose everything.

Take care,
E
 Quoting: Anonymous Coward 1520501
Poster 8398

User ID: 1297697
United States
08/25/2011 05:05 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
OOPs I meant FLOOD damage in the post below... not FOOD damage! LOL

Our family owns an insurance agency in Kansas city, Missouri.

YES you MUST get EQ insurance as an additional rider on our policy, and although KC is quite a distance from the New Madrid fault, our family has faithfully paid the EQ premium, food premium as well for the last 20 years.

It is not expensive unless you are directly in an EQ area on the gvt. maps - and so worth it, as the quake on the east coast shows this week.

Most people are unaware that even with most hurricane policies, FOOD damage is not covered, you have to have a sep. rider for flood insurance coverage, this was what was so hard for many of Katrina victims, they had hurricane coverage, but not water damage - so they were only covered for what they could prove the WIND did, not the storm surge.

I advise everyone to CHECK YOUR POLICY, call your agent and ask them, are you covered in case of EQ, flood/water damage, wind damage, hurricane etc...

yes it is expensive but in these times, the earth changes are intensifying, and it is better to prepare and pay the coverge for the next couple of years, than to lose everything.

Take care,
E
 Quoting: Anonymous Coward 1520501

 Quoting: Anonymous Coward 1520501


HAHAHA - I was wondering...
Mojofabulous

User ID: 1476210
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08/25/2011 05:07 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Yeah, I really need to do my homework on this now...It's something I never even thought about, living in Virginia.
 Quoting: Azila


It was in 2009 that I noticed a distinct uptick in quakes. So I started paying attention to USGS stats for the U.S. By the end of 2010 those stats looked like this:

[link to tinypic.com]

Doesn't take a rocket scientist to see where that curve is heading - up, up and away!
 Quoting: Anonymous Coward 1515848


CRAP! Had no idea it rose so sharply!!
 Quoting: Azila


Check out my earthquake thread in my signature. I graphed the iris database from 1990-2011.
Modern Earthquake Activity:
Thread: UPDATED 10/23/11: Earthquake activity from 1990-2011 charted. Pin for education!

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[link to www.godlikeproductions.com]

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Anonymous Coward
User ID: 1518330
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08/25/2011 07:04 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Yeah, I really need to do my homework on this now...It's something I never even thought about, living in Virginia.
 Quoting: Azila


It was in 2009 that I noticed a distinct uptick in quakes. So I started paying attention to USGS stats for the U.S. By the end of 2010 those stats looked like this:

[link to tinypic.com]

Doesn't take a rocket scientist to see where that curve is heading - up, up and away!
 Quoting: Anonymous Coward 1515848


CRAP! Had no idea it rose so sharply!!
 Quoting: Azila


and you would have no idea how high it really is, because at least twice as many as reported each day are left off.

In fact USGs now claims they report all quakes 2.5 and above. they do not, you can find plenty of the EMSC to prove that. USGS used to report on their main page all quakes 2.5 in the US and those 4+ and above worldwide. They surely are not posting hardly any 2.5+ in the rest of the world, despite their current claim.
Anonymous Coward
User ID: 1342596
United States
08/25/2011 07:18 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Need any more proof insurance is a scam?
Anonymous Coward
User ID: 1043775
United States
08/25/2011 07:19 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Most people in CA don't even have earthquake insurance.
Anonymous Coward
User ID: 1464242
United States
08/25/2011 07:23 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
i got news for everyone...no amt. of insurance is gonna help u if elenin/nibiru does what's been done in the past lol
Tawandaaaa

User ID: 1328412
United States
08/25/2011 09:06 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
EQ insurance is fairly cheap, but the deductibles are much higher than a regular homeowners policy. Here in TN, the deductible is typically 10% of the value of the property, not 10% of the claim amount. So, on a $200,000 house, they would only cover anything over $20,000. I used to have it, but when I changed companies, they forgot to include it on the policy and I never went back and added it. Probably should do that tomorrow.......
Anonymous Coward
User ID: 1446637
United States
08/25/2011 09:21 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
and most don't pay at all if the eq is rated under a 7.0M which is why you see so many get downgraded immediately after initial quake, so they don't have to pay.

IRIS had it listed at a 7.1 for months but they downgraded it to a 6.8. I have been in a 6.7 that was much closer to the epicenter and even I estimated it at the time of the eq to be a 7.
 Quoting: Anonymous Coward 1519950


This is not correct. In the earthquake coverage form, the term "earth movement" is specifically defined. There is NO mention of the magnitude of the quake anywhere in any of the "earth movement" forms I've ever used both on homeowners policies or commercial property policies here in the U.S.

The deductible for "earth movement" coverage can either be a dollar amount or a percentage of the limit of insurance you have.

The "earth movement" endorsement may also contain exclusions such as:
1. exterior masonry veneer
2. flood (think tsunami or tidal wave)
3. land to fill in gaps or holes caused by the quake.

It's best to either read your policy or consult with an insurance professional you trust.
 Quoting: Anonymous Coward 755417


This is correct.
Anonymous Coward
User ID: 1520863
United States
08/25/2011 09:23 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
For years the big insurance companies have made the message clear in the advertisements that if you go with them and something bad happens they will restore you to the way it was before the disaster. Now people are finding out the hard way how many things are not covered.
Anonymous Coward
User ID: 1520712
United States
08/25/2011 09:23 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Agenda 21 anybody
 Quoting: Anonymous Coward 1519858


YEP...divide and conquer.
DaKine

User ID: 1402016
United States
08/25/2011 09:31 PM

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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Most people in CA don't even have earthquake insurance.
 Quoting: Anonymous Coward 1043775


Most often it is required by the mortgage carrier
Anonymous Coward
User ID: 1509621
United States
08/25/2011 09:39 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
They even said, once the house is condemned, the occupants could not go back in the home to retrieve items. One house in particular was on Main st. in Culpepper. Said it would be torn down today. I'm guessing with contents inside.
 Quoting: Azila


To hell with that.

No one tells me I can't go into my house for any reason.

There isn't a point in life if you can't do that. I hope that was a bit eggagerated.

I just can't fathom what would happen if that happened to me. I'd be in jail for killing people trying to stop me from getting grandmas blanket or something.
centrist77

User ID: 1504428
United States
08/25/2011 10:49 PM

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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
Bump your right, they talked about it on Bloomberg.

+1 and bump, good topic
saberbanner2
Azila (OP)

User ID: 1520968
United States
08/25/2011 11:08 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
bump
.....And Grace will lead me home.
Azila (OP)

User ID: 1520968
United States
08/25/2011 11:10 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
We need to know.....honestly, I was blindsided with this info as I was never exsposed to an earthquake before.........sigh
.....And Grace will lead me home.
Anonymous Coward
User ID: 1520008
United States
08/25/2011 11:11 PM
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Re: ~~~~Anybody else see this?~~EARTHQUAKES and INSURANCE
A note was included in my renewal notice a year or so ago.Could opt for EQ insurance for an additional premium.I added it because I didnt think the premium was a lot at the time.Didnt think about it till seeing this thread.

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