Hi Folks -

Remember, this question is coming from a lawyer (me). After much consideration, I wonder if earthquake insurance is a waste of money.

First of all, the deductible - which is typically $25,000 - is huge. Second, I can just imagine the extent of the bad faith denials that took place after Northridge.

On the other hand, I have no idea how many buildings - or residences - were deemed totaled, or condemned, after the quake. Does anyone have any stats?

For those interested, my EQ premiums went from $475 per year (a small price to pay) to about $700 per year from 2002 to 2003. So, for $60 a month, plus a $25,000 deductible, I'm beginning to wonder if it's worth it.

Comments?

Tony