Earthquake insurance expensive

[Fernando]

Just throwing away my paper bills, I can across offer for earthquake insurance for my condo.
Amount coverage $25,000 with a $3,750 deductible and the annual premium is $1,297. WTF.
I'll go to FEMA when time comes ....if I need the money.

 

[Terrel L. Shields]

and surprise surprise surprise when FEMA turns you down after looking at your last years tax return.

 

[Fernando]

Let me see. Is there a big earthquake in next 21 years to make it worthwhile.
No.
Putting my premiums in the stock market will make me come out ahead,

 

[Fernando]

On an older larger condo complex, with same coverage, premium is $790. Interesting since both properties are near an earthquake fault, though different fault.

 

[Fernando]

And for my duplex, coverage up to $616,000 with 15% deductible, premium is $2,791.

 

[Fernando]

Another duplex, coverage $604,000 with 15% but lower offer premium of $1,833. Don't know why the difference besides location.