I do not know much about the insurance ratio in my country for homes, that is, how many homes are insured vs those that are not insured. But today, whilst reading the online newspaper I happened to come upon a headline "Norbrook house razed", I immediately thought to myself, is it house insured? I hope it is! because it cost a whole lot of money! and so, I want to ask a question to you all, do you know how high on the priority list is home insurance to people, in particular, homeowners in your country, and do you know the premiums for home insurance? Link to online article:http://www.jamaicaobserver.com/news/Norbrook-house-razed_17709836
I have the mandatory insurance that my mortgage requires, but I also have a contents insurance, so I hope nothing happens, but I am pretty safe I think.
Most people do not take home insurance seriously, let alone car insurance, only few people have it unless their morgage makes them, then they have no choice but it needs to be taken seriously, mostly it is rated at its worth and the property in it.
I hate insurances, we pay and pay, but when we need them there are always things that create us problems... Better safe than sorry though.
My dad has All State for the home owners insurance which that has been working out okay. I just do not know why he does not try to have the car insurance to also be All State. As long as we are insured then we are fine.
I have paid off my home, but I still keep it insured plus contents and an "umbrella" that would supposedly cover any liability for things like people getting injured on my property and trying to sue or whatever.
This is the reason why I want to get out of America. All these extra fees and insurances that you have to pay for the rest of your life. Overseas all the insurance I need is a gun!!! Nobody will try to come near the house and the houses here are made of stone.
I've got lots of stone, brick, and concrete in, on, and around my home. But I still worry about natural disasters, fires, etc that could do heavy damage.
In the US, you are not legally required to have home owners insurance. But people who apply for a mortgage are usually required by the lender to have at least basic insurance. The problem that many people are facing is that insurance deductibles have increased, in the thousands of dollars. And many people don't have that kind of money. So, for example, in Florida, after a hurricane, you'll see many houses that will keep a tarp on their roof for over a year because they can't afford to pay the deductible to fix their roof.
Yep, that's what happens in my country as well, as soon as we get the mortgage the banks demand a home insurance, fair enough I think.
