Depending on Government Handouts
Everyone knows that taking a trip to California is taking a risk of being caught in an earthquake. So why do 86 percent of the state’s homeowners have no quake insurance?
In the San Francisco Bay area, where geologists project a 62 percent probability of a magnitude 6.7 or greater earthquake in the next 26 years, Hurricane Katrina has had a dual effect on homeowners.
Some Californians called their insurance agents and signed up for quake coverage. But for many others, the billions of dollars in federal aid pouring into the Gulf Coast merely bolstered a sense that the government would come to the rescue after a big earthquake.
In the insurance industry this mind-set is jokingly known as the “Air Force One Solution” – the notion that the president would surely fly over a disaster zone dropping $100 bills from his plane.
When did it become my responsibility to subsidize the ability of a moonbat to live in California?
Technorati Tags: FEMA,
California Quakes,
Katrina.
I recently bought a home in San Francisco and didn’t get earthquake insurance. Part of the reason is that its expensive, but more importantly there is a huge deductible (generally 10%-15%) and its unlikely that my building would sustain that level of damage in an earthquake in and of itself..damage would like come in the form of a fire.
Damn Foreigner! You’re back! But not yet blogging I see. Ah well, perhaps in the future.
Once again, you bring alternate explanations to the debate. Thank you.
However, from what I saw of homes in ‘Cisco (I like to call it that ’cause the locals hate it so) a good shaking would tumble them to the ground. Isn’t 85% of the value better than nothing?