Earthquake Insurance

[BOSSHOG]

Anyone in Mississippi, Arkansas, Missouri, Tennesse, Alabama or neighboring states have earthquake insurance? I got a notice from my insurance company telling me what coverage I don't have and the earthquake notice peaked my interest. We live way south in Mississippi and more likely to be blown away by a hurricane but that New Madrid Fault ain't that far away. Is there a need for such coverage 300 miles south of Memphis?

[Donnachaidh]

1. Boss -- Google New Madrid Fault

That's the major fault that effects the central portion of the US. It kicked out a real good quake in the 1800's. Dunno if you would need quake insurance, but I'd look into the information on what the fault did previously. My first thought would be flood insurance where you are.

[BOSSHOG]

5. Thanks very much

I'll do some investigating. Also want to find out if my neighbors have earthquake insurance. Believe it or not we are not required to have flood insurance where we are, just far enough north for it not to be an issue. Even after Katrina we did not have flooding but just a few miles south got wiped out.

[TreasonousBastard]

2. Up here in the Northeast it's commonly available...

and cheap. Last I looked (a long time ago) the rate was around a penny per hundred. Some people get it, some don't, and some don't even realize they have it.

It's just one of those things that you have to decide what you think the risk is.

[fed-up]

3. is your home 2 story? split level? unreinforced brick masonry?

usually there is a huge deductible, which can be worth it depending on the value of your home and potential cost of repairs. How close to a major fault are you?

I did make sure my mom had equake insurance as her home had a small mortgage and she lived half a mile from the San Andreas Fault south of San Francisco.

Since my mom's house was split level, meaning the garage which was underneath a portion of the house was only supported by three solid walls the risk of collapse in an earthquake was great.

I also had my brother make sure the support posts were connected to the piers and I had him add plywood to the cripple walls in the crawl space to stregthen them.

A great book to read is "Peace of mind in Earthquake Country: How to Save Your Home and Life" by Peter Yanev, old, but still useful and the price is right!

http://used.addall.com/SuperRare/submitRare.cgi?author=&title=peace+of+mind+in+earthquake+country&keyword=&isbn=&order=PRICE&ordering=ASC&dispCurr=USD&binding=Any+Binding&min=&max=&timeout=20&match=Y&store=Abebooks&store=Alibris&store=Amazon&store=Antiqbook&store=Biblio&store=Biblion&store=Bibliophile&store=Bibliopoly&store=Half&store=ILAB&store=LivreRareBook&store=Powells&store=Strandbooks&store=Tomfolio&store=ZVAB

here is a site with some info and a quiz on how safe your home might be (just took the quiz for mom's old home and looked at the seismic map-she was in the "very violent shaking" region! and scored 23 points-that is why I kept boots/flashlight by my bed and a two week supply of instant meals when I was taking care of her

http://www.abag.ca.gov/bayarea/eqmaps/fixit/quiz/fixitquizSF.html

Should I be concerned about my home being so badly damaged in a future earthquake that I will be unable to sleep in it or that I will be injured? TAKE THIS QUIZ!


When was your home built?
If you are unsure of when your home was built, you can contact your county assessors' office. (Clicking on this button opens a new window that you will have to close to return to this quiz.)

Before 1960 = 5 points
1961 - 1978 = 3 points
1979 - now = 1 point

How tall is it?


The purpose of this question is to determine if you have potential problems due to (1) a "soft story" problem due to living area over a garage, (2) a complex configuration such as a hillside or split-level home, or (3) a "cripple wall" - a short wall between the top of your foundation and the first floor. Cripple walls commonly occur if your home is on a hill OR has more than three steps to the front door. (Clicking on the link below will open a new window with additional information on "cripple walls" that you will have to close to return to this quiz.)

2 or more stories with living area above a garage = 5 points
Split level, on hillside, or on gentle slope = 6 points
1 story, 3 or more steps to front door = 4 points
1 story, less than 3 steps to front door = 1 point

What intensity (color) does the shaking intensity map show for your neighborhood?

If you are unsure of the shaking your home may be exposed to, you can view the shaking intensity maps. (Clicking on this button opens a new window that you will have to close to return to this quiz.) Most of the Bay Area is likely to experience shaking of VIII, IX or X in at least one major earthquake.
Shaking = VIII, IX, or X (Red, dark red, or black) (most of Bay Area) = 7 points
Shaking = VII (Yellow) = 5 points
Shaking = V or VI (Green or blue) = 3 points

TOTAL POINTS
If your home earned 13 or more points, it probably needs to be evaluated to see if it is strong enough to keep you and your family reasonably safe, unless it has been strengthened in the last few years.
Scientists predict that a large quake in the Bay Area is about twice as likely to happen as not to happen during the next 30 years. Are you betting your home's value and your safety on those odds?


info on retrofitting-they have proper terminology here-I am not a contractor!
http://www.abag.ca.gov/bayarea/eqmaps/fixit/FAQs.html

Retrofitting for most single-family homes involves strengtheing the walls of the crawl space under your home and making sure that it is attached to the foundation (with bolts or anchors) and to the floor framing above. While many homes continue to be retrofitted, we have become increasingly concerned about the quality of retrofits, including the workmanship and the work actually performed. Somewhere between 25% and 75% of currently retrofitted homes need additional work. Make sure that your contractor addresses all three of the following:

1. The mudsill-foundation connection - Adding bolts and washer plates will prevent the house from slipping off the foundation.

2. The cripple wall - Adding plywood panels on all four walls will prevent collapse of the outside wall of your crawl space (the cripple wall) to resist collapse, or "shear."

3. The cripple wall-floor framing connection - Adding framing clips to attach the plywood shear walls to the floor framing above.

Specific directions on how to do a retrofit (including the kind and number of bolts, feet of plywood, types of nails to use, and number of anchors) are contained in the model "retrofit plan set."

A qualified engineer or other design professional is usually needed to evaluate larger split-level or two-story homes.

http://www.abag.ca.gov/bayarea/eqmaps/fixit/resources.html

[BOSSHOG]

4. Thanks very much

for the very helpful info. I'll check out those sites.

[fed-up]

6. here's more info for earthquake preparedness and a pic for retrofitting

http://www.72hours.org/home_safety.html


pics on this page
http://quake.wr.usgs.gov/prepare/future/reduce/safety.html

2. Determine the Safety of Your Home or School

Most people in California are safe at home if they live in a one- or two-story wood-frame building. These buildings are not likely to collapse during earthquakes. The most common damage is light cracking of interior walls, cracking of brick chimneys, and cracking and possible collapse of brick veneer on exterior walls. A cracked chimney should be inspected by a qualified professional before the fireplace is used.

Unfortunately, some one- or two-story wood-frame buildings can be hazardous. Those built before about 1940 can fail at or near ground level if they are not adequately bolted to the foundation or if the short "cripple" walls, often found between the foundation and the first floor, are not adequately braced. Information on adding foundation bolts and bracing cripple walls is available through your local Office of Emergency Services. Correcting these two problems will drastically reduce the earthquake risk for residents in older homes. Bracing of chimneys in older homes may be required to prevent toppling during earthquakes.

...
Bolting the wood frame of an older house to the concrete foundation can significantly reduce earthquake damage. Every 3 to 4 feet along the foundation, drill a hole using a right-angle drill with a 1/2-inch bit (A), blow the concrete powder out of the hole with a small piece of flexible tubing (B), and hammer in an expansion bolt, 1/2-inch in dia-meter and about 5-1/2-inches in length (C). Tighten the nut on the expansion bolt.


more books:
http://quake.wr.usgs.gov/prepare/future/info/additional.html

[Booster]

7. I live in California and no one I know has earthquake insurance.

The insurance is cheap but the deductible is huge. After the 7.0 quake we had years ago, a friend of mine had a lot of damage to her house. She took out a government loan at 2% and repaired the house. She figured out that it was a lot cheaper to do it that way than to pay the deductible (I think it was around $50,000). I don't know if your area would be different since you don't have quakes as often as we do, but pay attention to the deductible.

[BOSSHOG]

8. Roger that and thanks for the heads up

Now a stupid question? If I had an earthquake rider on my policy would the deductible change for the whole policy or just the earthquake part?

[fed-up]

10. I'm not an insurance salesperson-here is a great article on MSN on equake insurance

IIRC-the earthquake rider and deductible apply only to the earthquake coverage-regular homeowner's fire insurance has its own deductible, ask to read the fine print of any policy you ae considering if you have determined that the equity in your home and the likelyhood of great damage are worth the insurance-also remember the huge hassles and length of time that SoCal property owners had to wait for claims to be paid, if they were paid at all-again my mom had 90% equity in her house and was in the maximum risk area so it was worth the peace of mind to know she was covered


http://articles.moneycentral.msn.com/Insurance/InsureYourHome/GetTheFactsOnEarthquakeInsurance.aspx
..
Earthquakes have occurred in 39 states since 1900, and about 90% of Americans live in areas considered seismically active. Yet only a small percentage of people purchase earthquake insurance. Even in California, where earthquake fears are a daily fact of life, only 12% of homeowners had earthquake insurance in 2005, according to the Insurance Information Institute.
..

Ideally, your earthquake insurance policy covers the cost to replace or repair your damaged property. There are several options to consider when picking a plan:

Does the policy cover only the dwelling, or are accessory structures, such as garages, also included?
Will the policy pay for the contents of your home and for additional living expenses if your home is badly damaged or destroyed?
Are there any exclusions or limitations to coverage?
What deductibles must you pay before the insurance kicks in?

..

[AlCzervik]

9. i don't have earthquake insurance and i live in California.

in fact no one i know has it.