[caroln242]

I have been carrying earthquake insurance for several years, but it's gone up so much this past year, I'm wondering if it's worth the cost. The insurance charges a 10% deductible, so I'm thinking the only way they would pay anything is if it was a total disaster. Anything less, and it would come out of my pocket anyway.

I'd like to hear from anyone about this subject.

Thanks.
Carol

[teacherjenn4]

I would never go without it. The 10% is based on the total cost of repairs. We had a rental with significant damage in an earthquake. They estimated $30,000 in damage. The insurance company paid us $27,000, but the actual work was about $25,000. We have always carried it, no matter the cost.

[J_9]

You are in Kentucky, there is little need for earthquake insurance. I live directly on the New Madrid fault, and have for 14 years. I have more important things to spend my money on.

Now, if you were in California, yes, carry the earthquake insurance. But Kentucky, nah.

[teacherjenn4]

You are in Kentucky, there is little need for earthquake insurance. I live directly on the New Madrid fault, and have for 14 years. I have more important things to spend my money on.

Now, if you were in California, yes, carry the earthquake insurance. But Kentucky, nah.

That's why I need it!

[caroln242]

Thanks for your responses. I just keep seeing conflicting information wherever I look. Better safe than sorry, I guess. But I feel like I'm wasting my money.

[J_9]

You are wasting your money, in my opinion. When was the last recorded significant earthquake in your area of Kentucky?

[caroln242]

Conflicting information everywhere! Even the USGS says it “remains a concern” but then gives an estimate of only 10%.
It appears there have been minor tremors along the fault a lot, but nothing of any consequence since around 2009.

Here's some info I've found:

• Earthquake Index, #919 out of 948
Bowling Green, KY 0.02
Kentucky 0.24
U.S. 1.81
• The New Madrid fault lies in western Kentucky and a major earthquake has been predicted for years.
• He added that state officials regularly monitor earthquake activity in and around Kentucky, and that we’ve had some small ones in the past — nothing much that’s been measurable ... (but) that’s something you never know about.
• The New Madrid Quake zone is in the middle of the tension spot and may be ready to pop and relieve it’s pressure in a huge quake along the New Madrid earthquake zone.
• The New Madrid fault system does not behave as earthquake hazard models assume and may be in the process of shutting down, a new study shows.
• Another Government Cover Up... New Madrid Fault Is Waking Up... (Or Is 'Something' Waking It Up?)
• According to the USGS, there is a broad consensus that the possibility of major earthquakes in the New Madrid Seismic Zone remains a concern, and that the GPS data do not provide a compelling case for lessening perceived earthquake hazards in the region. The USGS recently issued a fact sheet reiterating the estimate of a 10% chance of a New Madrid earthquake of magnitude comparable to those of 1811–1812 within the next 50 years, and a greater chance of a magnitude 6.0 earthquake in the same time frame.


I wish I could find a concrete reason to justify paying for earthquake insurance. I guess nobody knows for sure about earthquakes though.

[teacherjenn4]

Conflicting information everywhere!! Even the USGS says it “remains a concern” but then gives an estimate of only 10%.
It appears there have been minor tremors along the fault a lot, but nothing of any consequence since around 2009.

Here's some info I've found:

• Earthquake Index, #919 out of 948
Bowling Green, KY 0.02
Kentucky 0.24
U.S. 1.81
• The New Madrid fault lies in western Kentucky and a major earthquake has been predicted for years.
• He added that state officials regularly monitor earthquake activity in and around Kentucky, and that we’ve had some small ones in the past — nothing much that’s been measurable ... (but) that’s something you never know about.
• The New Madrid Quake zone is in the middle of the tension spot and may be ready to pop and relieve it’s pressure in a huge quake along the New Madrid earthquake zone.
• The New Madrid fault system does not behave as earthquake hazard models assume and may be in the process of shutting down, a new study shows.
• Another Government Cover Up... New Madrid Fault Is Waking Up... (Or Is 'Something' Waking It Up?)
• According to the USGS, there is a broad consensus that the possibility of major earthquakes in the New Madrid Seismic Zone remains a concern, and that the GPS data do not provide a compelling case for lessening perceived earthquake hazards in the region. The USGS recently issued a fact sheet reiterating the estimate of a 10% chance of a New Madrid earthquake of magnitude comparable to those of 1811–1812 within the next 50 years, and a greater chance of a magnitude 6.0 earthquake in the same time frame.


I wish I could find a concrete reason to justify paying for earthquake insurance. I guess nobody knows for sure about earthquakes though.

As J-9 stated, if you live in California, you should have it. If my risk was as low as yours. I wouldn't.

[caroln242]

Thanks for replying!