When the next earthquake hits, who is going to pay for the damage? Here is a story suggesting it will be taxpayers and not the insurance companies. Why? Basically because 86 percent of Californians have no earthquake insurance.
I am one of those 86 percent, but I live in Sacramento, an area where I do not expect to have an earthquake damage my home. If, however, you live in San Francisco, LA or San Diego, you really need to rethink earthquake coverage. This can be an important coverage if, no, when, the big one hits.
Just as flood insurance is mandatory if you live in a flood zone, maybe earthquake insurance should be mandatory if you live near a major fault line?