I would think that it would depend on the Insurance Company:
Some companies will reinburse the value at some previous date, (when the policy was written), and some will escallate the coverage, (and the premiums) to make it "total" on the date of the loss.
This is probably a good instance where the "Low BId" is not a good idea.... more
I believe you are correct. The condo insurance (assuming it is covered in your condo fee, something you'll need to ensure) will cover the building exterior, and your renter's insurance will cover your contents (that part should be optional, I've never heard of a lender MAKING you take renters insurance to protect your personal property, they generally don't care about your property, just theirs!). Discuss it with your loan officer. Best of luck...Jim... more
Louis, I think you should spend some time checking on this map...http://earthquake.usgs.gov/eqcenter/recenteqsus/Maps/US10/32.42.-130.-120.php
Read through all this info...http://quake.abag.ca.gov/ ....
Browse thru these pictures for a few hours...http://sfpl.lib.ca.us/librarylocations/sfhistory/equake-browse.htm
I think the honest opinion of most of the world is that when the Big One hits San Francisco in the next Thousand Years or Thousand seconds, what's the point of insurance unless you've left it all to cousin Joline in Denver where she is safe from the Tsunamis.