Earthquake insurance and infastructure
Dear Bigger Pockets
I currently manage a triplex in oakland (Bay area). The owner currently doesn't have earthquake insurance. The owner doesn't have all the blueprints from the last time the building was remodeled and we are a bit unclear about the infrastructure of the building as it pertains to earthquake safety. We are wanting to analyze what the current structure is prepared for when assessing weather or not to invest in earthquake insurance.
Does anyone have any engineers that I could hire to do a full assessment of the property and give us some clarify on how to move forward?
Thanks!
#5 Multi-Family and Apartment Investing Contributor
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- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
If you are managing the property you have no liability, financial or otherwise. The owner should have EQ insurance whether you have blue prints or not? I have EQ insurance on my properties in Western Wa; would not think twice especially Bay Area.
thanks for feedback. Im the manager and son of the owner so do some advising as well. I think EQ insurance will run us close to 5K per year and its my understanding that if you aren't on a fault line and have quality structure, its not necessarily a must. but i hear you. I just would like to consult with an expert and get to bottom of the risks with our specific place
