Re: “Earthquake insurance premiums soar,” Jan. 12.

This massive increase in earthquake insurance has made me do some calculations.

My insurance company claims my house is worth $350,000 yet B.C. Assessment says it is $105,000. I tried, but I can’t change the insurance value. At the same time my garage, according to the insurance company, is worth $35,000. This is a simple 10-by-20-foot 1936-era garage.

Recently, I inquired about the cost to build a simple double-car garage in the same style. The quote was $20,000. I have yet to get a quote to rebuild my house but have talked to builders and, with the difference in the evaluations, it would not be anywhere close to $350,000.

The earthquake deductible amount on the house would be 10 per cent or $35,000. So if we have an earthquake and a few windows break or a wall gets cracked, then I am on the hook for the first $35,000. If the damage is limited to my garage then it is not covered.

Is there really any point in having earthquake insurance? As far as tsunami damage is concerned, I think that by the time Pacific Ocean waves go through the straits and get around to the southern tip of the Island, the force will have petered out.

William Jesse

Oak Bay

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