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There have been quite a few earthquakes, both large-ish and small here in Northern California of late. Although an earthquake in California is nothing at all unusual, it seems there have been a few more, and stronger, earthquakes than usual.

After this morning's 4.1 shaker near Sacramento, I finally decided to look into earthquake insurance. Although there are no - known - earthquake faults in my immediate area. Probably should have done this a long time ago.

Anyway, Oroville is a dam on the Feather River, and there are one or two known faults in the immediate vicinity of Oroville dam. And my home is about 1/4 mile or so from the Feather River, about 35 miles downstream of the dam (!). So if Oroville dam should be damaged during a quake, all of the water would come down the Feather River.

Although I do maintain flood insurance on my home, it seems that if Oroville dam went due to an earthquake, I might not be covered for any possible flood damage (because a flood from the dam would be due to a quake).

So I phoned my insurance person an hour or so after this 4.1 shaker, and she laughed. It turns out she has been getting a LOT of calls about earthquake coverage this morning - LOL, imagine that!!

She quoted me a fast $20.00/mo. for earthquake coverage.

It seemed dumb not to get earthquake coverage at that price, so I said, "Sign me up!!".

Anne

Anne, if I may ask what does the earthquake policy you’ve decided to get cover? I’ve never priced them but that seems pretty good depending on what it covers. Thanks.
Sandi

Sandi, quake insurance is a rider on my USAA policy. Ask your insurance agent.
I was having Bowen therapy, when my phone went off with alert. My Bowen therapist and I laughed and thought it was the system test scheduled for tomorrow. After I got home Jane texted me - nope it really was a quake, the test really is scheduled for about same time tomorrow. The quakes was NOT near Sacramento. It was in the Delta in Isleton, nearly 50 miles southwest of Sacramento . We never felt a thing as Jane and I were discussing it.
Velda

Son said he was in class facing blackboard and while they did not feel anything, everyone’s cell phones went off. When he turned around, all his students were on the floor! He was impressed at how fast they reacted!!! (He teaches high school in Napa.)

Earthquake insurance here has always seemed to be way too high for what coverage you get, but this year I decided I'd better check it out again. I live in a mobilehome and own the lot space. Coverage doesn't "cover" everything. I was offered two options and signed up for the partial coverage one because the better coverage would have caused me to double my premium (or more). It only covers the dwelling (not contents, not sheds, or land damage). My deductible is a MINIMUM of $4,900 - otherwise it's 10%, total coverage is only about half the house's market value, and it cost me an additional $372 on my premium. I guess we won't actually know how good or bad that would be unless we have the big one. Advantage of mobilehomes is they are designed to be moved and hopefully it would only fall off a few of the piers. Still, I believe our earthquakes are easier to face than tornadoes or hurricanes.

Evie

monik7 wrote:Anne, if I may ask what does the earthquake policy you’ve decided to get cover? I’ve never priced them but that seems pretty good depending on what it covers. Thanks.
Sandi

Hello Sandi.

Thanks for asking.

The earthquake insurance I just purchased is not a "stand-alone" policy, but rather was added on as a rider to my currently existing Homeowner's Insurance policy.

As others have mentioned - thanks Velda, Pooker and Judy for sharing your stories (I truly enjoy other's perspectives on here).

The coverage (what is covered), and the price of the coverage, can vary quite a bit depending upon where a person lives, and the type of dwelling that they wish to insure (mobile home, condo, apartment, townhome, single-family dwelling).

In addition, the cost can also vary depending on the square footage of the dwelling, and what kind of foundation the dwelling sits on (slab, raised foundation, post-and-pier, etc.), and if the dwelling is single-story, two-story, or multiple story.

Also (and I am probably leaving something else out) cost can depend on the what a person wishes to have insured - dwelling, or maybe dwelling and garage; or maybe dwelling, garage and outbuildings.

Finally (and I am probably leaving something else out) cost can depend on the level of coverage one wishes to purchase (for example, 100% of dwelling; or maybe 100% of dwelling and contents; or maybe only 75% of these).

Also, the amount of deductible (what portion a person must pay after a loss) will also affect the cost.

Stand-alone earthquake insurance is also likely to be more expensive than earthquake insurance added to an existing policy.

Sandi, if you are interested in getting earthquake insurance your first step might be to review these two California government websites (and then check with your current Homeowner's Insurance provider):

https://www.insurance.ca.gov/01-consumers/105-type/95-guides/03-res/eq-ins.cfm

and

https://www.earthquakeauthority.com/

If anyone here out of California is looking for earthquake insurance, check around to see if your state has a similar website. In addition to California - Oregon, Washington and Hawaii are also prone to earthquakes. Also Nevada, Idaho, Montana and Wyoming are known to have earthquakes.

In point of fact, anywhere in the United States can have - and has had at some point in time - an earthquake.

Here is a bit on the New Madrid earthquakes (magnitude 7.2 - 8.2) which struck near St. Louis, Missouri : "They remain the most powerful earthquakes to hit the contiguous United States east of the Rocky Mountains in recorded history." The town of New Madrid was destroyed, much of St. Louis severely damaged.

https://en.wikipedia.org/wiki/1811%E2%80%931812_New_Madrid_earthquakes

These quakes came when the area was not so densely populated as it is today. When the next earthquake strikes this area (notice I don't say "if", but rather "when") the area will be decimated. "In recent decades, minor earthquakes have continued. The epicenters of over 4,000 earthquakes can be identified from seismic measurements taken since 1974."

Sandi, I hope that at least begins to answer some of your questions. If you have any other questions, please ask.

Anne

I got earthquake insurance (with my homeowners policy) when I moved here to the desert since I am only a mile or so away from the San Andreas fault. I would have to look up the details of my policy but I think it covers me for about $150K and it doesn't cost all that much per month.