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Reply to "People who don’t insure their house "
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[quote=Anonymous][quote=Anonymous]We don’t have homeowners insurance. It is priced based on average risk, plus a profit margin for the company. I am much more careful than the average person - always clean the dryer lint etc - so my house is much less likely to be damaged than the average person’s house. So it would be a net negative for me to purchase i.[/quote] I've lived in my house for ~23 years and never made a homeowners insurance claim. I still have a mortgage, so I've been insured with the same company the whole time. In recent years, they have been increasing my premium by 100-300 a year. This, in turn, has increased my monthly mortgage bill. I switched insurers this month and will pay $600 a year less. I have fantasized about the day I might be able to not pay home insurance, although, last summer, 3 houses a few streets over burned down due to an electrical fire that started at one of their outdoor hvac fans. Homeowners insurance is a rip off...until it's not.[/quote]
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