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With Or Without It, You're Still Screwed
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In the wake of the Napa quake, this "shocking" news: 90% of California homes don't have earthquake insurance. Okay, then, let me tell you something behind the headline, from someone who's a California homeowner: Quake insurance is very expensive and covers practically nothing. They don't mention that part in the articles. You pay a hefty additional premium, but the deductible is about what you'd have to pay to rebuild the structure, and losses are subject to all sorts of exclusions. Your insurance agent is likely to tell you, nah, don't bother, it won't help. THAT'S why 90% don't buy it. It SHOULD be more reasonable and it SHOULD be included in standard policies, but no. (KNSD-TV/San Diego)
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