Warning: Creating default object from empty value in /home3/inspo77/public_html/wp-includes/ms-load.php on line 113
Napa’s 6.0 rumbler brings up another queasy topic: Earthquake insurance

Napa’s 6.0 rumbler brings up another queasy topic: Earthquake insurance

Napa’s 6.0 rumbler brings up another queasy topic: Earthquake insurance
News from Sacramento Bee:

The earthquake that jolted the Napa Valley last weekend upended more than wine barrels and mobile homes. It also was an unsettling reminder of how few Californians – homeowners and businesses alike – carry earthquake insurance.

In large part because of cost, complacency and the “it’ll-never-happen-to me” syndrome, Californians are more likely to own a swimming pool than an earthquake policy.

“We do not have earthquake insurance,” said Robert Dahl, owner of Dahl Vineyards in Napa, who figures he is down about $ 30,000 in damaged assets and lost revenue from temporarily closing his winery in the quake’s aftermath.

“It was an option that my insurance agent tried to talk me into. But I’m from Minnesota, and I haven’t had to deal with anything like this before.”

In the last decade, the number of individual Californians taking out earthquake policies dropped about 8 percent, from 1.21 million sold in 2004 to 1.11 million policies last year, according to state Department of Insurance figures. For businesses, the slippage was even more pronounced, plummeting 29 percent, from 119,900 policies sold in 2004 to 84,000 last year.

Overall, just 10 percent of California businesses and homeowners with property insurance also carry earthquake coverage.

Until Sunday’s 6.0 temblor, Napa Valley had not had a major quake that size…………… continues on Sacramento Bee

… Read the full article


Related News: