CA residents - do you purchase earthquake insurance?

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No. It’s outrageously expensive and we’re already insurance poor from the outrageously expensive auto, homeowners, medical, dental and life insurance ripoffs. We just learned to rebuild our own house after it shakes apart or burns to the ground. It costs less and we get far more value for the money when we DIY than when we pay it all out to insurance companies that want to shortchange or deny us on the claims payouts.

No. It’s crazy expensive, always has a huge deductible, and all sorts of exclusions. If you look at the stats, the average damages are typically much less than the deductibles, so your insurance is basically useless unless your house is totally destroyed, which is incredibly rare.

What range of stats do you see regarding average cost to repair damage after an earthquake in CA? I have a 15% deductible on a $800k valued structure.

I do. I have $1.5M equity in my house, I’m not willing to give that up if my house shakes apart. I can deal with a $200k deductible but not a $1.5M loss. I think my earthquake policy costs around $2500.

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