Wednesday, January 12, 2005
Insurance is a scary topic. Who wants to think about disaster? Who wants to think about losing your stuff to fire or other unusual events?
Anyway, we went in to review our policies. Our houses were definitely underinsured. The challenge is that there isn't a really good way to determine the actual rebuilding cost. The best guess estimates are between $175-300 per square foot in San Diego. We were insured on the order of $116/sqft (rental) & $140/sqft.
I'd like to determine a better ballpark as the difference between the estimate for $200 and $250 is around $350/year. But that is a lot better than being stuck with $100K+ in order to rebuild.
And we started to investigate life insurance. Lots of options. But since I'm invincible, it seems a little reckless to get insurance! :)
Here's to a happy and safe new year where insurance is not an issue!