Do I need to buy earthquake insurance?

Yes! Everyone should, but it is the most under-served insurance market around. Unless you are in California, or another earthquake-prone area, no one thinks it can happen to them. They know they need the coverage just in case, but they never think that such a tragedy will happen to them. The problem is it is a choice and not mandated by a company or the mortgage company. When given a pricey choice most people will not buy the coverage and hope that it does not happen to them.

The problem with this is that there are only a couple of perils that can completely destroy you and your life savings. One is fire, and the others might be flood and earthquake. Do you really want to take that risk?

In Boston, we are on a fault. We do have them. Not on the scale of something high on the Richter scale, but it just might happen today or once in our lifetime. It is a coverage option, and one that should be considered.