🚀 go-pugleaf

mark@yuckspam.WCO.com wrote:
> 
> : It's really screwed up.  And since there would be a $14,000
> : deductible (10% of insured value of improvements), I'd be looking
> : at foreclosure in case of a quake anyway, so what the hell?  Besides,
> : I wonder if a similar $800,000 home in Saratoga is charged the
> : same amount even if it were built during a time of much more
> : lenient earthquake codes.
> : The system is busted.  See what happens when Sacramento tries to
> : solve a problem?
> 
> Amen, my average single family home, worth $250K or something,
> will cost $1800 a year to 'cover' with Earthquake insurance.
> $45K deductible, won't cover the chimney, contents, pool, etc, etc.
> The first thing to go would be the chimney, so that means I have to get
> $50K of damage to make a claim, sheesh, I don't think that
> is a realistic solution!

After the Central GA flood of 1994, many homeowners near the Olcmulgee
River found themselves located in a newly created flood plain map.  The
resulting flood insurance set back lots of folks to the tune of
$500/month.  Lenders required the insurance even though the last flood
that even came close was around 1908.  The river rose high enough to
flood all but one bridge into town.  Experts say that this was a 500
year flood, maybe even a 700 year flood, but the insurance is due
regardless.

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What the heck? ... it's just my opinion!
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