Quote:
Originally Posted by myboynoah
So, am I a fool for buying it? Should I just depend on the good people of the US of A to provide my insurance?
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It all depends. In California it is highly regulated and the state underwrites part of the market. It is not simply a matter of "is it affordable" you also have to look very closely at what it is you are buying.. My guess is that in Memphis the underwirters ahve decided the chance of another New Madrid super-quake is so unlikely that thye are offering ti cheap and it probably looks good. The question may be (and I don't really know your market) if the quake was big enough to wipe out all the unreinforced masonry structure in the midwest, would the market even be abel to pay for it?
It may also come down to how does it make you feel abotu your family's circumstances?