Sulawesi quake and tsunami

[Hondaracer]

Originally Posted by twitchyzero

I always see this argument

but so few homes are covered under quake damage that going with big enough of an insurance company should fare better?

I definitely agree with your other two points

The problem is the same companies that are providing the earth quake insurance also underwrite all the other insurances that people may claim

Just a rough numbers game but I’d say if your house/residence sustained such damages in an earthquake that the maximum allowable payout occurred, or a replacement cost was issue, That would essentially mean everything is completelyyyyyy fucked

[Obsideon]

Originally Posted by Badhobz

i cant get earthquake insurance in richmond so when the big one happens, imma gonna inflate my shitty little 60 dollar walmart raft and hopefully use that to escape this shithole.

You need one of deez

[Obsideon]

That is an interesting thought regarding earthquake insurance.
How would it work?

If for example you pay $700 per year, and deductible is $75,000. If the "big one" hits then shit would be so FUBAR'd that you would think the insurance company collecting all these $700 freebies for the last however many years would not be able to afford paying out tens if not hundreds of millions of dollars and go under? File bankruptcy?
Would the insurance holders be screwed in the end and get nothing?

Even at 75k deductible as mentioned earlier, a small-medium quake that shatters some windows wouldn't be worth claiming right?

[Ulic Qel-Droma]

jus back your 4k porn up in the cloud. you all good bruh.

[quasi]

Originally Posted by Obsideon

That is an interesting thought regarding earthquake insurance.
How would it work?

If for example you pay $700 per year, and deductible is $75,000. If the "big one" hits then shit would be so FUBAR'd that you would think the insurance company collecting all these $700 freebies for the last however many years would not be able to afford paying out tens if not hundreds of millions of dollars and go under? File bankruptcy?
Would the insurance holders be screwed in the end and get nothing?

Even at 75k deductible as mentioned earlier, a small-medium quake that shatters some windows wouldn't be worth claiming right?

Insurance or not, if damage is substantial the problem is going to be finding anyone to fix your place. Demand will be so high, prices will be even higher and you'll be waiting months and months to find someone who has time to do the work.

Insurance is a weird industry because they have set values to fix shit, what's going to happen if there is so much shit to fix that people are doubling, tripling, quadrupling their rate?

IMO earthquake insurance is the biggest scam in the insurance industry. I know others will have a different view on it, but if you took that extra money you're paying for that coverage and put it away you would be way further ahead.

[Hondaracer]

$700 a year + 75k deductible

Invest that $700 a year and you fix your home/broken windows etc for 40k? You’re way ahead.

I have the ability and know-how so my thought is that if I can’t fix the damage myself, or at the very least get it back to a liveable state, then odds are it’s going to be border line looting in the streets or im going to be crushed in the rubble of my house.

[RRxtar]

Originally Posted by Dragon-88

And the first pile of debris you run over will pop that thing no problem..

or if its an explorer 200, it will pop the minute you take it out of the box