I don’t blame the folks in Cal for not buying earthquake insurance. That would be a waste of money because we all know if an earthquake of a large magnitude were to hit the state would declare a natural disaster and the Federal Government would start writing out checks. Why pay for something you can get for free? And if the Fed’s don’t pay, then they would sue because the people in New Orleans didn’t all buy flood insurance when they were living below sea level and they got paid.
Earthquake insurance, even if one’s home is marginally at risk is a prudent risk control measure. Yes, the government may declare a disaster and provide loans, but who wants a mortgage on top of a mortgage, even if the interest rate is low. Pay for the home twice? Not me. My house is part of my estate, and as such, deserves financial protection. Getting and staying debt free is a worthy goal for aging Americans. EQ insurance is a small part of that package, paralleled by payment of property taxes, homowner’s insurance, smoke alarms and maintaining the garage door and exterior paint; all prudent protection for the financial asset.
I don’t blame the folks in Cal for not buying earthquake insurance. That would be a waste of money because we all know if an earthquake of a large magnitude were to hit the state would declare a natural disaster and the Federal Government would start writing out checks. Why pay for something you can get for free? And if the Fed’s don’t pay, then they would sue because the people in New Orleans didn’t all buy flood insurance when they were living below sea level and they got paid.
Earthquake insurance, even if one’s home is marginally at risk is a prudent risk control measure. Yes, the government may declare a disaster and provide loans, but who wants a mortgage on top of a mortgage, even if the interest rate is low. Pay for the home twice? Not me. My house is part of my estate, and as such, deserves financial protection. Getting and staying debt free is a worthy goal for aging Americans. EQ insurance is a small part of that package, paralleled by payment of property taxes, homowner’s insurance, smoke alarms and maintaining the garage door and exterior paint; all prudent protection for the financial asset.
darn, missed all the action, that’s ok, i’d jus run out the building or jump out a window in a panic anyways