01/29/2025
What's an earthquake and the Palisades Fire have in common? I've cut this from an article about finding a place to live if your home burned:
"It goes without saying that finding a roof over your head anywhere in the Los Angeles basin and surrounding hills is going to be a challenge for quite a while. It also goes without saying that real estate in that neck of the woods, including that which you don't own but rent, is gobsmackingly pricey."
How long before you will be back in your home? With thousands of homes to be rebuilt, it's going to be years. If we have a Big-One cascadia earthquake there will be thousands of homes unoccupied in our region. If you have 2 homes or can work remotely while moving out of state, you may be "ok". However, if you don't have earthquake insurance you do not have loss of use coverage. That's the money that pays the rent someplace else while you wait to get back in your home. What's rent going to run in Sno-King counties if we have 100,000 folks out of their homes? What if you are out of your home for 2 years? No earthquake policy and that is all out of pocket, let alone the loss to rebuilt your home. Yes earthquake coverage costs as much as your home policy. Yes they have high deductibles. These policies are designed to avoid foreclosure and bankruptcy. Earthquake insurance is a bone marrow transplant... you are going to hate it, but you might live. Just some food for thought.
