silence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · 6 months agoHome insurance was once a ‘must.’ Now more homeowners are going without | Slammed by pricier policies and climate-driven natural disasters, more and more Americans are exposing themselves to riskwapo.stexternal-linkmessage-square13fedilinkarrow-up159arrow-down12
arrow-up157arrow-down1external-linkHome insurance was once a ‘must.’ Now more homeowners are going without | Slammed by pricier policies and climate-driven natural disasters, more and more Americans are exposing themselves to riskwapo.stsilence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · 6 months agomessage-square13fedilink
minus-squarehydrashok@sh.itjust.workslinkfedilinkarrow-up10·6 months agoIt’s a bold strategy, Cotton. Let’s see if it pays off for them.
minus-squarehitmyspot@aussie.zonelinkfedilinkarrow-up9·6 months agoFor many it will. The unlucky few will be bankrupt and homeless.
minus-squarepwnicholson@lemmy.worldlinkfedilinkarrow-up1arrow-down1·6 months agoThe only people doing this are loaded with enough cash or assets to not have to take out a mortgage. They’ll be fine. You can’t get a new mortgage without insurance
minus-squareBo7a@lemmy.calinkfedilinkarrow-up4·6 months agoDon’t forget us folks who built their little house themselves and can’t find/afford insurance. For me it was ‘this house is too small to qualify under normal terms, you will have to pay ridiculous premiums’ 420sqft isn’t exactly a shed. But these companies are stuck in a different era.
minus-squarepwnicholson@lemmy.worldlinkfedilinkarrow-up3·6 months agoInteresting. I didn’t know there would be minimums like that.
minus-squaresilence7@slrpnk.netOPMlinkfedilinkarrow-up3·6 months agoAlso: people who are approaching retirement and actually paid off their house over the course of a lifetime.
It’s a bold strategy, Cotton. Let’s see if it pays off for them.
For many it will. The unlucky few will be bankrupt and homeless.
The only people doing this are loaded with enough cash or assets to not have to take out a mortgage. They’ll be fine.
You can’t get a new mortgage without insurance
Don’t forget us folks who built their little house themselves and can’t find/afford insurance.
For me it was ‘this house is too small to qualify under normal terms, you will have to pay ridiculous premiums’
420sqft isn’t exactly a shed. But these companies are stuck in a different era.
Interesting. I didn’t know there would be minimums like that.
Also: people who are approaching retirement and actually paid off their house over the course of a lifetime.