Thank you!

I guess there's no short-cut in this part of the market. (In so many areas,
there are comparison tables, reliable sources for rating the vendors, etc.)

Regarding the risk that earthquake insurers would go under. I wonder
whether the government would step in to make sure the insurers wouldn't go
under. Because if the insurers went under, then other people would be less
willing to buy earthquake insurance. Also, I was told that the insurers
"reinsure"--basically, they somehow spread the risk by sharing the insurance
premiums and risks with other insurance companies, I wonder if that would
happen with earthquake insurance.

State Farm told me they're not writing new policies--except on replacement
exceptions or the like. I wonder if any insurers other than Allstate are
promoting the market--the only radio ads I've heard have been from Allstate,
telling people that Allstate stands ready to help. I'm sure every
legitimate company is standing ready to help and that the customers already
have called the insurance companies, so my guess is that the purpose of the
ads is to encourage people to consider shifting to Allstate.

Did you (or anyone else reading this, of course) find any ratings info about
which insurance co.s are the most helpful, how secure their money is, etc.?

Thanks again!




"Avrum Lapin" <avrum113NOSPAM[at]earthlink.net> wrote in message
news:avrum113NOSPAM-DF8276.17533003112003[at]news03.west.earthlink.net...
- quote -

In article <Hlzpb.96998$Fm2.79954[at]attbi_s04> ,
"Howard J" <bikepathlesstaken[at]yahoo.com> wrote:

- quote -

When you go out for a quote the insurer will determine a cost to rebuild
using a model which uses as inputs such factors as square footage,
#baths, heating and cooling, # corners, construction methods roof
material, distance from hydrant, disatnce from Fire Station etc. You
will find wildly different values between the various insurers(I did).
Find out what typical construction costs are.

The policy/quote will tell you that they will pay up to 120 (or 150%)
percent of that calculated value. The quote will also detail coverage
for contents, out buildings liability, living costs during
reconstruction as well as a ton of exclusions. I found that the biggest
differentiator was how they covered water damage and mold.

There may be discounts for being retired, non smokers, dogless etc

The pricing depends on what deductable you accept.

Spend the time and go into to see a few insurance agents and understand
what you are buying before you solicit quotes from the web.

As far as earthquake insurance goes it is very expensive, has high
deductables (typically 15% of the face value), little coverage for
contents or replacement living. expenses. If you have little equity go
naked - when the house falls down quit claim the house to the bank. In
the Northridge earthquake 21st Century Insc nearly went under. Guys like
State Farm etc have separate comapnies for Ca and they may also go
under.

Make sure that your insurer is licensed in California.

I don't sell insurance, I just buy it
--
Avrum Lapin avrum113[at]earthlink.net
Upland CA Remove NOSPAM from address

We are wanting to evaluate and perhaps solicit additional quotes for
insuring our property. On the several quotes we've received, we received
very little info that seems to help us compare the quotes, and nothing along
the lines of addressing whether expenses would be covered during rebuilding,
whether it would cover the costs of making the house current to whatever
codes are present then, etc.

We might be able to transfer an existing policy, but as highlighted by the
fires, we want to choose wisely as regards the mix of features, deductibles,
and pricing.

We'd also appreciate feedback re how to evaluate insurance co.s

One "feature" question is whether to get earthqualke insurance. In the
event of a large earthquake, is it likely that the fund will be solvent, and
is it likely that parties that had purchased insurance will be better off
than those who didn't (or in other words, why aren't more people buying
earthquake insurance)? Thanks!