Tips for Buying Earthquake Insurance

We live in a quake-prone region, the best way to protect your investment in your home is to buy Earthquake Insurance.

The decision whether or not to buy EQ Insurance is an individual, financial decision. Key factors to research and consider are:

A. pricing
B. the amount of equity you have in your home,
C your proximity to a fault zone
D the age and style of construction of your home and foundation.

Policies with 10% to 15% deductible are now available. Deductible is subtracted off the settlement amount rather than out of pocket. The price and high deductibles for EQ policies has led many people to avoid buying the product, but remember; If you live in a quake-prone region, going "bare" with no insurance means you have a 100% deductible…you'll bear the entire risk yourself.

Don't assume that FEMA, the SBA and/or private charities will bail you out with funds to rebuild after a major disaster. FEMA has very limited funds and strict eligibility criteria. SBA loans are modest and must be repaid. Private charities are being severely stretched by an ever-increasing demand for their services.
Coverage’s to consider

A. contents
B. replacement
C. building code
D. additional living expenses

For current earthquake Activity click here:
http://www.aeic.alaska.edu/Seis/recenteqs/

Accident Awareness

Being able to respond when an accident does happen, can be just as important as avoiding one. The first step we always recommend, is obtaining an accident report. An accident report may be required by the state of Alaska under the following conditions:

1) Someone is injured
2) Someone is killed
3) The damage to the vehicle(s) involved appears to be $2000 or more

Accident reports, if required, need to be submitted within 10 days of the accident. If a police officer responds to the scene of the accident, he or she should be able to provide the proper form. The form is also available at any police station, as well as online at:
http://www.dot.state.ak.us/stwdplng/accreptapp/index.shtml

O.O.P.S. !

Many of us have been fortunate enough to avoid the claim process. So what happens when an accident does occur? Let "O.O.P.S." lend a hand.......

Obtain insurance information - from all parties involved.
Obtain an accident report - available at any police station.
Phone your agent - we are here to help!
Seek an estimate - lining up a body shop can help the claims process along.

Home Inspection?

Thinking about buying a home? Whether it's new, or new-to-you, it's a major investment, and the more information available, the easier it is to make a quality decision. One way to be sure you have all the information is to find a qualified, certified inspector. From the soundness of the foundation to the durability of the roof; the most reliable, all-around opinion would be from a Professional Engineer. Because Professional Engineers are regulated by the state in which they operate, their qualifications and accountability are assured.

How do I find an engineer for a home inspection?
Check the local phone book; only licensed Professional Engineers will have the "P.E." designation after their name. It may also be on their brochures, business cards, and advertisements.
If an inspector has already been arranged by the prior owner or a lending institution, ask to see a license, stamp, or seal. A proper seal should be issued by the state and contain a license number.
As with any service provider, check references. A qualified engineer should be happy to provide a list of clients.
There are also organizations that represent Professional Engineers, such as the National Academy of Building Inspection Engineers.
Website: http://www.nabie.org/