Homeowners Face Financial Realities of Quake Damage - NBC29 WVIR Charlottesville, VA News, Sports...

Full story: NBC29 Charlottesville

Ten days ago, a magnitude 5.8 earthquake shook central Virginia. Now, some of the families worst hit by that natural disaster are being shaken again by the financial realities of the damage done by the quake.

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Teresa from Staunton

Staunton, VA

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#1
Sep 2, 2011
 

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I had some damages to my home and the insurance company said thatI don't have earthquake insurance. Who would think about this when you purchase the insurance that it would not happen around here. I agree that the governer needs to come in and put his foot down on this issues.
Why

Charlottesville, VA

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#2
Sep 2, 2011
 

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Why is it that people wait until a disaster hits to look at their insurance. We have had earthquakes in the past, floods, etc.. Then people turn to the government and cry woe is me. Folks, look at your policies, talk to a reputable agent and make sure you are covered for life's unpleasantries. PAY for your own property coverage and then when a problem occurs you are covered. My relatives in New Orleans have always bought flood insurance, so when Katrina hit, they were protected. If only so many others had protected themselves.
Have Some Compassion

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#3
Sep 2, 2011
 

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Why wrote:
Why is it that people wait until a disaster hits to look at their insurance. We have had earthquakes in the past, floods, etc.. Then people turn to the government and cry woe is me. Folks, look at your policies, talk to a reputable agent and make sure you are covered for life's unpleasantries. PAY for your own property coverage and then when a problem occurs you are covered. My relatives in New Orleans have always bought flood insurance, so when Katrina hit, they were protected. If only so many others had protected themselves.
I am sure your relatives in New Orleans were aware that flooding was a pretty regular occurance with them living so close to an ocean and everything.....some residents in Louisa County were not aware that earthquakes of this size capable of doing this type of damage were likely to happen....considering the last time it did....they were not alive!!!!
Steve

United States

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#4
Sep 2, 2011
 

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After reading a lot of the stories about the damage not being covered by the peoples Homeowners Insurance is crazy. When you set down in the insurance office and get your insurances, you know right off that flooding is not covered, the government offers that and no other do. So we buy Flood insurance from them, then we believe that all else is covered, but no!!!! It is a big rip off, and the insurance company sit back and laugh about it. Maybe we are wrong by not asking, but should we ask If a big black bird hit my big picture window and it breaks, is it covered? If a big airplane crashes into my home , Is it covered?. If a bullet hits my home and puts a hole in the siding, Is it covered? All, theses insurance company do is take our money and never intend to ever cover any accidents that happens to our homes. Just thought about this, and will be calling my Insurance Company on Monday, if a large hail storm hits my haome and does a lot of siding damage is it covered? It better be, after paying $1430.00 a year. I;m wondering if after the tornados this summer if one should tear my home up, if it is covered? If none of this is, then Why have it.
Mow

Charlottesville, VA

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#5
Sep 2, 2011
 

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These days its kind of hard to feel sorry for people who own their own home and still be stupid enough not to get good coverage.
Hakim Ali Hakim

United States

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#6
Sep 3, 2011
 

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I doubt very many people, including me, had a clue that we were sitting on a fault line. This summer I reinvorced my cement block walls in the basement with tons of portland cement,3/4inch slate and sand mixed inside the blocks. The earthquake hit and for a solid min of shaking, I was convinced my house was all but destroyed. I had my contractor over to inspect and low and behold Nada. I offered a prayer to God as I know him and called the insurance company. Sorry, but you don't have earthquake insurance! I blasted them and said. I asked for the top of the line insurance when I bought from you. Yes you have it EXCEPT EARTHQUAKE!! 69.00 a year more and I'm now covered! But get this, with a 21,000 dollar deductible... You can't win folks, you can't win. God bless all who suffered thru this earthquake. and MOW, Please lighten up buddy! OK?
DoubleStandard

Richmond, VA

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#7
Sep 3, 2011
 

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It amazes me how many people criticize the people in New Orleans for not having insurance during Katrina, saying it's their bed and they should sleep in it, and "MY taxes shouldn't have to go to help them just because they were stupid enough to not have insurance."

And look at you now, lining up for handouts and wanting MY tax money because you weren't prepared. You bought your bed, now you sleep in it.

And to the person who said they didn't know their house was near a fault line, that's your own fault(no pun intended.) That's like buying a house next to a railroad track and then complaining about the noise...

Since: Jan 10

United States

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#8
Sep 4, 2011
 

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Mow wrote:
These days its kind of hard to feel sorry for people who own their own home and still be stupid enough not to get good coverage.
Mow, most people insure their homes with what an insurance agent recommends. I am VERY educated and I don't have earthquake insurance. I am strongly considering purchasing it NOW, but before last week, there would have been NO reason to ask for it if the agent didn't request it. I'm sure many homeowners have EQ insurance now that did not have it 2 weeks ago. I have a good insurance agent, but it has surprised me that he hasn't called to see if I want to add it.

Don't underestimate the intelligence of the people whose houses were damaged. They have enough problems without being ridiculed.
BECAUSE

Charlottesville, VA

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#9
Sep 4, 2011
 
Why wrote:
Why is it that people wait until a disaster hits to look at their insurance. We have had earthquakes in the past, floods, etc.. Then people turn to the government and cry woe is me. Folks, look at your policies, talk to a reputable agent and make sure you are covered for life's unpleasantries. PAY for your own property coverage and then when a problem occurs you are covered. My relatives in New Orleans have always bought flood insurance, so when Katrina hit, they were protected. If only so many others had protected themselves.
People in Va are not waiting until the disaster...WE DON'T HAVE QUAKE INSURANCE AVAILABLE YET!! We own our own home and got whatever was available. SO "WHY" says pay for your own property coverage....IT'S NOT AVAILABLE HERE!!
Knew

Charlottesville, VA

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#10
Sep 4, 2011
 

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BECAUSE wrote:
<quoted text>
People in Va are not waiting until the disaster...WE DON'T HAVE QUAKE INSURANCE AVAILABLE YET!! We own our own home and got whatever was available. SO "WHY" says pay for your own property coverage....IT'S NOT AVAILABLE HERE!!
According to my agent, quake insurance, as I guess you would call stand alone policies, are not available in Virginia. ENDORSEMENTS to homeowners for quake coverage are sold, at least by my company. This endorsement covers only the house. Haven't had a detailed discussion with my agent, but guess that means will not provide coverage for contents, and maybe even for injuries. The problem right now is that almost all companies have put a moratorium on adding these endorsements until the aftershocks have stopped. As for me, I knew I did not have earthquake insurance because I skimmed my policy when purchased. Didn't read it word for word, but did see that piece of information. Thought many times about asking about the coverage, manana, but tomorrow never came. Well, tomorrow came last Tuesday. Since I live in Charlottesville, the only damage I have been able to find is to our feeling of security each time we hear a rumble. Even had we lost our home, I wouldn't be blaming my agent or insurance company for my own procrastination because I was fully aware of the earthquake exclusion. As soon as the endorsement is available again, I will be adding, even with what will probably be a high deductible. Ten, 15 or 20 thousand dollars will be hard to pay out if something worse than last week happens, but the money to replace my destroyed home out of pocket would be impossible.

Since: Nov 09

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#11
Sep 6, 2011
 
Lets see how it going to be done and I hope that all financial problem get recover soon.

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