Getting Real (Estate)

smoothmoniker · 01-29-2009, 11:43 AM

The bummer with buying a 1934 house is getting insurance. The insurance companies are asking for proof that the roof, plumbing, electrical, heating and AC are all new within 15 years. We have no records of any of that.

Also, earthquake insurance is a joke. It would cost us $3500 a year, there is a 15% deductible, and it only covers structural damage, not contents of the house. Basically, if our house gets hit by an earthquake, the insurance wouldn't even kick in until we had paid the first 90k out of pocket, and then it would pay for repairs to the structure, not anything for furniture, electronics, stuff of value inside.

What a joke.

01-29-2009, 11:43 AM	#11
smoothmoniker to live and die in LA Join Date: Feb 2003 Location: Los Angeles Posts: 2,090	The bummer with buying a 1934 house is getting insurance. The insurance companies are asking for proof that the roof, plumbing, electrical, heating and AC are all new within 15 years. We have no records of any of that. Also, earthquake insurance is a joke. It would cost us $3500 a year, there is a 15% deductible, and it only covers structural damage, not contents of the house. Basically, if our house gets hit by an earthquake, the insurance wouldn't even kick in until we had paid the first 90k out of pocket, and then it would pay for repairs to the structure, not anything for furniture, electronics, stuff of value inside. What a joke. __________________ to live and die in LA

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