However, if you live directly on top of the fault like those Hayward residents, I’m not sure what kind of seismic upgrade can be done when land tears apart from underneath you.
Very rare occurrence. Why terrorize everyone. Fault locations are part of disclosure. You can find them on Property Shark. Buyer beware.
The Hayward fault runs right through CAL Memorial Stadium since 1923 they have known about it. I can show you fault movement in Daly City where the San Andreas goes into the sea
But some homeowners get suckered into the paranoia whether a future earthquake is real or not, and buy earthquake insurance not knowing that the day something so catastrophic happens, same as the FDIC returning your money (in 99 years) you won’t see a penny in your pockets.
I would buy the insurance if I had a pre 1940 home on bad soil on a fault . Otherwise spend the money on seismic upgrades.
Doesn’t take an earthquake to sever a gas line. Scary stuff…
@opamp, Can you share how I can go about searching for the right earthquake insurance? Also, what to consider in terms of deductibility % etc etc?
In california, earthquake insurance is underwritten only by California Earthquake Authority (CEA). It is serviced by your home owner insurance. Go to https://www.earthquakeauthority.com/ to get a quote. The insured value should match your dwelling A coverage in home owners policy. If you want to purchase, you need to call your home insurance policy agent - the rates are same across insurance bcos its underwritten by CEA.
You have option of 5%,10%,15%,20%,25% deductible. They also have loss of use coverage which they pay out with zero deductible. I chose 10% deductible and 25k loss of use.
Here’s where owning a condo is better than owning a SFH. Condo master insurance usually has earthquake coverage already baked in so there’s nothing extra you’d need to pay out of pocket.
HOAs are starting to drop it. I know it came up for discussion on my SJ TH and I believe the HOA decided to drop it rather then spike the HOA monthly fees.
Ok in that case it’s not a benefit, but a disadvantage…
Homeless people would be safer in the earthquake
I felt it too. It’s better to have ten of these than a big one.
It just means the big one is imminent…
I thought the small quakes reduce tension… and thus the likelihood of a big quake?
Small quakes do reduce tension, but they also indicate active fault movement which can mean more and bigger to come. Overall it’s not a good thing to have.
That’s what I was taught, but that was back when Pluto was a planet.
I just imagine a trump tweet: Pluto got demoted to a asteroid. Not fair!