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I always considered earthquake insurance a waste of money. The premiums are high and deductibles are quite high so a quake would have to be very strong to do en

I always considered earthquake insurance a waste of money. The premiums are high and deductibles are quite high so a quake would have to be very strong to do enough damage that cost of repair was more than the deductible. And if that was the case then there would be widespread damage and a huge amount in claims. Seems unlikely even a big insurance company could remain solvent and pay out.

goerz 7y ago
Insurance companies are insured against big payouts (reinsurance). As long as it’s not the literal apocalypse, they will pay.
- DuskStar 7y ago
  LA getting "the big one" would be a hell of a local apocalypse, at least.
  - smileysteve 7y ago
    In "A Tale of 5 Crashes" the gold requirements from fire insurance in San Francisco in 1906 caused the increasing of rates in England