Hi Barbara,

You do make some excellent points. Yes, we've lived here a while and watched the equity more than triple during the last 14 years. And as we don't have a lot of other assets, other than cars, etc., we don't have a lot of easy $$$ hanging from our trees. We were lucky to have bought this land and built our home at a real low point in the market. Prop 13 keeps our property taxes relatively stable, but if an earthquake destroyed our house, we would be up the proverbial creek without the paddle. I think housing prices have peaked and may even be coming down in some areas, while interest rates are climbing. Still, I think we would have to take out an equity line just to pay for eq insurance, an idea that I will investigate.

We are actually looking at moving to a safer and less expensive area so my husband can retire. We also have three kids left to put through college (our 3 adoptees), girls currently 18, 16 and 10. Our two boys are grown.

I just ran some figures based on my best guestimate, which still has us paying $222,500 in deductibles based on the total destruction of the building. I put a lot of $$ into the structural engineering of our house and had it over designed to withstand a mag. 8 eq. So that has been our "insurance" all these years we've lived here. I think even 14 years ago, the high deductible made us decide not to carry eq insurance.

Still, you and Canie have made some very sensible points. I will consider it; ponder the future for a while but not for too long. Thanks.

Cathryn