Earthquake insurance or not for MF in LA?
I have about $2M of equity in three single homes (technically a triplex but not connected) on a hillside in Eagle Rock in NorthEast LA. Annual rents are $160k. I haven’t had earthquake insurance for the last 15 years but I am considering it. The homes were built in 1990 and I purchased them in 2004.
I got a quote to cover each of them separately: full dwelling amount is $333k, 15% or $50k deductible, rent coverage $75000. Annual premium for each about $600.
Thoughts welcome to help me analyze is it worth it?