Re: Earthquake/disaster insurance
From: dahako (dahakoaol.com)
Date: Sat, 9 Aug 2008 13:56:39 -0700 (PDT)
 Hi-

I cannot emphasize this enough: get flood insurance for homes and common areas 
whether or not you are in a 100 year floodplain.? Floods are the single most 
common disaster and they happen every year to people who never thought they'd 
flood.? And your regular insurance does not cover floods in the US.

Get earthquake insurance if you are in a seismically active area.? Pay 
attention to what you will need for deductibles.? 

Get replacement value homeowners or renters insurance. Make sure to regularly 
(every couple of years) check on the value of your property versus the cap on 
the replacement amount your insurer will pay. This goes triple if you are a 
condo type multi-unit development or building rather than simple single family.

Build your buildings to deal with the issues likely in your area.? If you may 
get high winds, get the right windows, building anchors, roof construction, and 
garage doors.? Don't build in a 100 year? floodplain, it is a sucker's bet 
given the current projected ocean level increases and the increasing flukiness 
of the weather.

If you are in a condo, talk about what people will do in case the building 
suffers major or severe damage.? Condos are one of the most difficult 
rebuilding challenges after a disaster unless all the members almost instantly 
support the board so it can get a developer to do the reconstruction quickly 
before the banks call the mortgages.

Be smart.

Jessie Handforth Kome
Eastern Village Cohousing
Silver Spring, Maryland
And, once again, I am expressing my own opinions and in no way representing my 
employer.


 










 


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