Author Topic: Should I buy earthquake insurance and natural gas line insurance?  (Read 1104 times)

jeromedawg

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Hey all,

Was just reviewing our homeowner's insurance policy and I don't think it includes earthquake insurance or natural gas line insurance. I received a separate 'ad' from the gas company about buying insurance for the natural gas line. Is this something that earthquake insurance may already cover comprehensively? I'm in Southern California (Orange County) so definitely impacted haha. Is it a rip-off or should I be seriously considering it?

Sibley

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Re: Should I buy earthquake insurance and natural gas line insurance?
« Reply #1 on: February 03, 2017, 12:04:01 PM »
Earthquake insurance - I'd get it assuming that you're in high risk area. I didn't need it in Sacramento, but would assume you do. However, I don't know the fault lines in SoCal at all.

Natural gas line - so, they're covering damage from the earthquake? Or just in general? If the first, I'd check if the earthquake policy already includes it.

Read the policy docs, and get answers. Also, do you have assets to self insure, at least partially?

jeromedawg

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Re: Should I buy earthquake insurance and natural gas line insurance?
« Reply #2 on: February 03, 2017, 01:12:29 PM »
Earthquake insurance - I'd get it assuming that you're in high risk area. I didn't need it in Sacramento, but would assume you do. However, I don't know the fault lines in SoCal at all.

Natural gas line - so, they're covering damage from the earthquake? Or just in general? If the first, I'd check if the earthquake policy already includes it.

Read the policy docs, and get answers. Also, do you have assets to self insure, at least partially?

Hmm, we're in Irvine so the Elsinore fault line is the closest - http://www.earthquakecountry.org/roots/image11839-1791.html

I'm not sure about the natural gas line - it might be covering earthquake related damages but we'd have to investigate more. I haven't actually received an earthquake insurance offering in several years at least through our home insurance company. I'll probably research home/auto insurance combinations through my company too, as it may end up saving us some $ per additional discounts, etc. We have a decent amount of savings but I'm not sure I'd feel comfortable having any 'self-insurance' money coming out of that pool....