|Re: Earthquake/disaster insurance||<– Date –> <– Thread –>|
|From: OC611NGC (normangausscharter.net)|
|Date: Sat, 9 Aug 2008 17:23:52 -0700 (PDT)|
Anne:A flood is a subset of uncontrolled water that damages private property. Water can damage a home, some of which may be from a flood (from naturally occurring water) and some of which may have been caused by failure of man-made facilities. The latter is not covered by flood insurance.
According to the standard concept of flood insurance, coverage is limited to water that damages property because of flooding of a natural stream or body of water. Broken water mains uphill of you do not qualify. Neither do burst pipes in your home nor overflowing bathtubs or washers.
Check out the following: http://www.allbusiness.com/glossaries/flood-insurance/4951360-1.html
Norm Gauss----- Original Message ----- From: "Anne Fleck" <solianna [at] cablespeed.com>
To: "Cohousing-L" <cohousing-l [at] cohousing.org> Sent: Saturday, August 09, 2008 16:41 Subject: Re: [C-L]_ Earthquake/disaster insurance
Hi,Sorry, but I gotta pitch in here. I live at Jackson Place in Seattle. We are on a fault line and a west-facing hill. The 6' diameter city water main runsalong our eastern edge - uphill from us. It is under so much pressure that the water is running uphill at our point. Admittedly, an unusual situation---- if that pipe breaks during anearthquake we're toast but we're covered by our earthquake insurance. But ifit breaks for any other reason we'd have to have flood insurance to be covered. I don't know if any of our members have that. The HOA doesn't. I actually do know someone in Seattle who had their house flood from city water pipes breaking during an earthquake. Also on a hill. And I know someone who came home to 6" of sewage in his house when the pump failed on the pipe - uphill from his house. Another story. So it depends on the individual situation. Thanks,, Anne -----Original Message----- From: OC611NGC [mailto:normangauss [at] charter.net] Sent: Saturday, August 09, 2008 3:46 PM To: Cohousing-L Subject: Re: [C-L]_ Earthquake/disaster insurance Jessie:Your recommendation to get flood insurance only applies to communities whose development is on low-lying lands near streams or bodies of water. If yourdevelopment is built on a hill such as most buildings in San Francisco, flood insurance would be a waste of money. My community's buildings are situated more than a hundred feet above theSalinas River in Paso Robles. We have two drainageways flowing through our14 acres within deep arroyos at least 30 vertical feet above the maximum level of any flowing water. Downhill from us there are large housing developments built on the banks of the Salinas River. I would recommend flood insurance for them, but not for us. Check with your local flood control district before spending any money on flood insurance. Norm Gauss ----- Original Message ----- From: <dahako [at] aol.com> To: <cohousing-l [at] cohousing.org> Sent: Saturday, August 09, 2008 13:56 Subject: Re: [C-L]_ Earthquake/disaster insuranceHi- 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 thesingle most common disaster and they happen every year to people who never thought they'd flood.? And your regular insurance does not cover floods inthe 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, roofconstruction, and garage doors.? Don't build in a 100 year? floodplain, itis 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 buildingsuffers 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. _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/_________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/ _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
- Re: Earthquake/disaster insurance, (continued)
- Re: Earthquake/disaster insurance Larry Miller, August 9 2008
- Re: Earthquake/disaster insurance dahako, August 9 2008
- Re: Earthquake/disaster insurance dahako, August 10 2008
- Re: Earthquake/disaster insurance OC611NGC, August 10 2008
Results generated by Tiger Technologies Web hosting using MHonArc.