I would rather commit funds to earthquake retrofitting an existing structure before even looking at EQ Insurance. In my opinion, EQ insurance is too expensive has too many exclusions and is plagued by its high deductible. Nonetheless, here's where you can check into the coverage: http://www.earthquakeauthority.com/Ceapolicyinformation.aspx
The reality is that when the next â€œsizeable" earthquake hits the SF Bay Area and causes widespread damage I would rather have my cash in my hands to start repair/rebuilding ASAP without waiting for the insurance company to hand me a check.
Everyone in the SF Bay Area knows another "big one" is coming. There is an "Expected Housing Losses in an Earthquake" page at http://quake.abag.ca.gov/housing/losses/ which provides some estimates of damage relative to a 1906 & Loma Prieta events.
In my opinion, retrofitting seems like the best use of funds, at least you will have a tangible property improvement and a little more peace of mind once your money is spent.
Raymond Autry, GRI, ASD, ABI
The Professional Group
465 California Street
San Francisco, Ca 94104
If you still think you need to purchase EQ Ins here's a link you may want to check out.
Of course it helps that we're on granite and historically structures on granite fare far better than those on dirt, clay, sandy loam etc. Perhaps you may want to do a little geological research to determine what kind of soil you're on.
You're in a Zone 4 seismic area which is considered very high probability for a major EQ events. You may want to read the following information. If you want to learn more heres the link to the entire site.
Also take a few moments to read the blog I posted just yesterday regarding the "GREAT SHAKEOUT DAY" http://activerain.com/blogsview/4223328/today-is-the-day-of-
When Could the Next Large Earthquake Occur Along the San Andreas Fault?
Along the Earth's plate boundaries, such as the San Andreas fault, segments exist where no large earthquakes have occurred for long intervals of time. Scientists term these segments "seismic gaps" and, in general, have been successful in forecasting the time when some of the seismic gaps will produce large earthquakes. Geologic studies show that over the past 1,400 to 1,500 years large earthquakes have occurred at about 150-year intervals on the southern San Andreas fault. As the last large earthquake on the southern San Andreas occurred in 1857, that section of the fault is considered a likely location for an earthquake within the next few decades. The San Francisco Bay area has a slightly lower potential for a great earthquake, as less than 100 years have passed since the great 1906 earthquake; however, moderate-sized, potentially damaging earthquakes could occur in this area at any time.
A great earthquake very possibly will not occur unannounced. Such an earthquake may be preceded by an increase in seismicity for several years, possibly including several foreshocks of about magnitude 5 along the fault. Before the next large earthquake, seismologists also expect to record changes in the Earth's surface, such as a shortening of survey lines across the fault, changes in elevation, and effects on strainmeters in wells. A key area for research on methods of earthquake prediction is the section of the San Andreas fault near Parkfield in central California, where a moderate-size earthquake has occurred on the average of every 20-22 years for about the last 100 years. Since the last sizeable earthquake occurred in 1966, Parkfield has a high probability for a magnitude 5-6 earthquake before the end of this century and possibly one may occur within a few years of 1988. The U.S. Geological Survey has placed an array of instruments in the Parkfield area and is carefully studying the data being collected, attempting to learn what changes might precede an earthquake of about that size.
Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA BRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Should You Buy Earthquake Insurance?
1. What are the soils like underneath your home? There is a LOT of variance in that in the city.
2. How much seismic strengthening has been done?
3. What kind of foundation do you have?
4. When was the property built?
The other factor is how expensive it is. Earthquake policies have a huge deductible on them and the premiums are quite high. Most of our clients prefer to spend money on strengthening the property vs throwing money at insurance, but ultimately you have to make the decision that's right for you.