The FAIR Plan is typically considered a last resort for homeowners and property owners who are struggling to secure coverage because their properties are located in areas prone to natural disasters, such as wildfires, earthquakes, hurricanes, or other catastrophic events.Here are some key characteristics and features of the FAIR Plan:1.

Everything from unexpected maintenance issues to concerns over things like earthquakes, insurance, and encountering litigious tenants in the future. 

A few places this originates from:Albania, Barbados, Burkina Faso, Cayman Islands, Democratic Republic ofCongo, Gibraltar, Haiti, Jamaica, Jordan, Mali, Mozambique, Panama, Philippines, Senegal,South Sudan, Syria, Tanzania, Turkiye, Uganda, United Arab Emirates and Yemen

Actually.. you can in fact be arrested for the acts of the LLC but that is a different discussion.The LLC typically does not protect you from any damage that may occur as a result of a physical disaster or other hazards such as: floods, fires, hurricanes, earthquakes etc.

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Never invest in any location with rent control.Low disaster risk - Natural disasters such as tornadoes, hurricanes, and earthquakes destroy communities.

Do you usually purchase an earthquake insurance for your rental property?  

That said, they now have a good reason to do so...Don't discount the effects of a major earthquake!

For example, my lease states that if the  “Premises are totally or partially damaged or destroyed by fire, earthquake,accident or other casualty that render Premises totally or partially uninhabitable, either Landlord or Tenant may terminate this Agreement by giving the other written notice.”

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).