Earthquake Insurance
Rebuilding your home, replacing your possessions and starting over can be terrifying.
Have you ever done it? Not just a new job but a new life? It takes herculean will. And no guarantee exists that you will ever get back to the point you left. Chances are, it probably will be grim for a good while and it may end up worse.
Having to start over because an earthquake has destroyed your home means one other thing. You really will not be starting over. In fact, you will begin way behind the starting blocks. Because if your home is destroyed, you will still owe the mortgage. If you are still paying on destroyed possessions, that debt will not disappear, either.
It is amazing that just a flick of the 3 billion year old earth's wrist has the power to discombobulate your 80 to 100 year life, but chances are it might.
Consider the following three facts:
- There are 500,000 earthquakes each year
- Human activity can trigger them
- There is 70% chance of a 6.7 magnitude or higher occurring in the San Francisco Bay area in the next 30 years