4 ms·
I wonder if insurance prices accurately reflect the guaranteed nature of the event.
by grandalf 10y ago
I wonder if insurance prices accurately reflect the guaranteed nature of the event.
- amorphid 10y agoEarthquake insurance is pretty darn expensive, and most (all?) homeowner policies don't cover earthquake damage. Source: I used to be a licensed property and casualty agent in California.
- jacobwcarlson 10y agoThere is no cost-effective way to get residential earthquake insurance in the Bay Area.
- grandalf 10y agoAhh, ok, so that means the prices likely do reflect the probability accurately...
- goseeastarwar 10y agoTo inject numbers into the discussion: my homeowners insurance is $965 and earthquake is $1220. More than doubling the yearly bill to be sure, but it's easy to justify given bay area real estate prices.
- grandalf 10y agoIs your home worth between $1 and $1.5M ?
- pmoriarty 10y agoI wonder if there's an indirect way to get cheaper earthquake insurance, by investing in industries or companies that would benefit from an earthquake, or maybe by taking bets in a prediction market.