“You can lead a horse to water but you can’t make him drink.” Lower premiums in a tough economy won’t encourage Californians to buy EQ coverage. My HOA took a vote on whether to add $5 to our monthly association dues to cover the cost of EQ. It was voted down by residents. If people won’t pay $5 a month, what makes the Bobsie twins (Di and Babs) think a paltry 30% savings or 50% deductible cut would get them to buy? This economy is killing the average person–DEAL with it, you stupid politicians!!
If you want more homeowners to buy earthquake insurance, have the banks require it for loans on property. The article sums up the reason why people aren’t buying it. “FEMA cannot pay people who have earthquake insurance”. Why pay when you will get it for free?
This would be an effective use of federal loan guarantees. Lowering the rates and deductibles for CEA earthquake insurance would increase its market penetration.
So, instead of the CEA buying reinsurance, the two idiot senators from CA want the rest of the taxpayers in the country to take on the risk. There is no way in hell if a major quake hits that the CEA would be able to repay the federal government. How come these two aren’t pushing for the same thing for wind coverage for the Hurricane states? With so many people underwater on their houses in CA right now, who is going to pay for EQ insurance when the only one who would benefit would be the bank that has the mortgage. If my house was destroyed by an EQ, I would just walk away at this point.
I have had CEA for many years. Last year it tripled in cost from $150.00 to $450.00. This year it went up to $758.00. What the heck!! With all this talk of lowering the cost mine went up by a factor of 5!
“You can lead a horse to water but you can’t make him drink.” Lower premiums in a tough economy won’t encourage Californians to buy EQ coverage. My HOA took a vote on whether to add $5 to our monthly association dues to cover the cost of EQ. It was voted down by residents. If people won’t pay $5 a month, what makes the Bobsie twins (Di and Babs) think a paltry 30% savings or 50% deductible cut would get them to buy? This economy is killing the average person–DEAL with it, you stupid politicians!!
If you want more homeowners to buy earthquake insurance, have the banks require it for loans on property. The article sums up the reason why people aren’t buying it. “FEMA cannot pay people who have earthquake insurance”. Why pay when you will get it for free?
This would be an effective use of federal loan guarantees. Lowering the rates and deductibles for CEA earthquake insurance would increase its market penetration.
So, instead of the CEA buying reinsurance, the two idiot senators from CA want the rest of the taxpayers in the country to take on the risk. There is no way in hell if a major quake hits that the CEA would be able to repay the federal government. How come these two aren’t pushing for the same thing for wind coverage for the Hurricane states? With so many people underwater on their houses in CA right now, who is going to pay for EQ insurance when the only one who would benefit would be the bank that has the mortgage. If my house was destroyed by an EQ, I would just walk away at this point.
More California idiots at work…..
Anybody seen the movie 10.0? And that’s not the worst case scenario. There isn’t going to be enough insurance in the world.
I have had CEA for many years. Last year it tripled in cost from $150.00 to $450.00. This year it went up to $758.00. What the heck!! With all this talk of lowering the cost mine went up by a factor of 5!