Tag Archives: earthquake insurance

Should You Buy Earthquake Insurance?

That’s one of the top questions home buyers ask me on a regular basis.

Only about 12-15% of California homeowners have earthquake insurance, and I believe that ratio drops further in The Bay Area and San Francisco. This is because earthquake insurance is very expensive. In a condo building, it will double your homeowners association dues (HOAs). Additionally, most policies come with a 10-15% deductible. This means the damage to the building would have to be pretty severe in order for you to use your coverage. Continue Reading

Earthquake Brace + Bolt Program Helps Owners Reduce Retrofit Costs

If you’re a homeowner thinking about doing a seismic upgrade on your property, you may be eligible for a $3,000 grant to offset costs—and be able to significantly lower your earthquake insurance cost.

The California Earthquake Authority (CEA) is currently promoting its Earthquake Brace + Bolt program, which reimburses qualified homeowners for up to $3,000 if they complete a building code-compliant seismic retrofit. Seismic retrofits reduce risk for older homes, and the work takes only one or two days to complete. Cost typically runs from $3,000-$6,000. Continue Reading

SF Real Estate Market Strong, Despite Earthquake Risks

I was interviewed for a story that ran yesterday in the British daily The Guardian about the threat of a large earthquake and how that might influence people when they consider purchasing real estate in San Francisco.

Yes, local market is particularly strong right now, and yes, I routinely have conversations with home buyers about the concept of earthquakes and how they can protect their investment. When it comes down to it, it’s important to know what ground you’re on and how solid your foundation and other seismic components are.

The Guardian’s Nate Berg did a great job presenting all angles of this topic. Check it out here:
When, Not If: How Do San Franciscans Live With the Threat of the Next Quake?

And if you’re interested in my take on earthquake insurance, this past blog post discusses that:
Should You Buy Earthquake Insurance?

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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