Cohousing-L Mailing List: Re: earthquake insurance

[Flowers (flowers2]

Hi Aubrey,
Thanks for your response. How did you reconcile the folks don't like to pay 
insurance of kind, and those who more risk adverse? That's a part of the 
situation here. We have folks who are a little older, who own their units 
outright, and we have folks younger, have kids and lots of expenses, and who 
have not built up equity in their units. We have 29 units, near a fault 
line. Earthquake insurance in California is quite expense (about $20,000 per 
year), so it would be a big bump in our monthly dues.

Ed Flowers
----- Original Message ----- 
From: "Audrey Watson" <audrey [at] galisteo.com>
To: <cohousing-l [at] cohousing.org>
Sent: Saturday, August 09, 2008 10:40 AM
Subject: Re: [C-L]_ earthquake insurance


> We at Winslow cohousing, Bainbridge Island, WA, do have earthquake
> insurance.  It was a big decision the first year, as we balanced out
> those in the community who don't like to pay insurance of any kind and
> those who are more risk averse.  After that, it just became part of our
> insurance bill.  Note we are organized as a co-op, and all buildings
> belong to the corporation and everyone owns shares, so the risk for all
> buildings is all of ours.   On top of that we have regular property
> insurance (fire/liability etc).   Note Washington does not have as many
> earthquakes as California, but there is a fault line that runs thru
> Bainbridge ISland, and we have as much risk for a "big one" as California.
> There are those who wanted to "self-insure" or even try for a
> self-insure among other cohousing groups,  but the $$ amounts to rebuild
> one of our bigger buildings (a 3 story 6-plex) are now quite large.
> We are also working on the food and water and notification issues for
> "disaster preparedness",  so every household will have what they need
> for 3-4 days.  That hasn't been completed.
>
> audrey
> winslow cohousing
> bainbridge island, WA
>
> -------------
>
> HI,
> My first time to ask a question. I'm Ed Flowers, living at Yulupa 
> Cohousing in Santa Rosa, CA.
>
> A couple of our members have asked about earthquake insurance. Does any 
> community have this insurance? Or insurance that covers a disaster (other 
> than a fire)? Or has any community set aside some money to cover costs in 
> case of a disaster (a kind of self-insurance)?
>
> This is separate from the question of having enough food and water on hand 
> in case of an earthquake.
>
> Thanks.
>
> Ed Flowers
> Yulupa Cohousing
>
>
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