Sunday the annual Bay to Breakers race takes place. With a starting point near the San Francisco Bay, a few blocks from The Embarcadero, the 12K race runs west through the City and finishes at the Great Highway where breakers crash onto Ocean Beach. In-person registration is available at the Orig3n Health & Wellness Expo at Pier 35 today and tomorrow. Click here for more information. Also on Sunday, the Western Conference Finals continue as the Golden State Warrior take on the Houston Rockets starting at 5 PM. This will be the third game in the seven game series, which is currently tied at one win apiece.
On the “Homes for Sale in San Francisco” front, here’s our report for this week, 5/13/18 – 5/19/18
Should You Buy Earthquake Insurance?
Hill & Co. Sales Manager Jill Gumina was quoted in the San Francisco Chronicle recently, this time responding to the question “Do you recommend earthquake insurance?”
Here’s what she had to say:
“Earthquake experts agree it’s not a matter of if but when regarding a Bay Area earthquake of significance, so consider the following:
Has the home been retrofitted to withstand even moderate shaking? If not, can you afford to take necessary steps to reinforce your home now? Location near a fault is irrelevant. As we saw from the Napa earthquake in 2014, your property doesn’t need to be on or even near a fault to sustain severe damage.
Would losing the home or having heavy damage cause catastrophic financial ruin? Most earthquake policies charge very high premiums of thousands of dollars. The deductibles are 10 to 20 percent of the value of the structure. On a $1 million Bay Area home, that could mean $100,000 to $200,000.
But most importantly, how much home equity do you have? Owners with less than the deductible have little to lose. If your equity is 30 to 50 percent or more than the deductible, consider coverage because your loss would be so much greater in a severely damaging event. Speak with a trusted insurance advisor to help you make a sound decision.”