Quote:
Originally Posted by rustyp
Thinking outside of the box - is there such a thing as getting a home insured for liability only ? Screw all these what if the roof leaks, a hurricane, a flood. I'll fork out the money to fix providing the premium is substantially less than today's standard homeowners policy. In 50 years of home ownership I have had two claims. Neither close to the value of having to rebuild a house. This would be extremely attractive to me as a two homeowner snowbird. If one home is damaged significantly I'll be moving into the other while repairs are performed anyways.
|
if you do not have a mortgage, you can insure your home how ever you want. but keep in mind, its your nest egg and when something does go wrong.. its going to come out of your own pocket. Your taking a gamble. Now for conversation and something to think about. When I moved to Florida... house, insurance etc.... the second month I was here... Hurricane Andrew (what the heck) came , took , demolished my home...yup.... demolished.... no, doors, roof, windows etc. I was under a pile of walls ... anyway... I was sick about it... was I covered for 100% or was I covered for the pro rated of how old my furniture was...thank goodness my insurance was excellent... and my $$$ I did not lose my investment and take a major loss because I WAS NOT COVERED PROPERLY. So be careful to cover your major nest egg. Have to say... esp here in Florida anything can happen, sink holes and tornadoes. Up North have to say, a lot less can happen. The Villages did get hit I think with Hurricane/tornadoes in 2007... lots of serious damage. Oh , ya, also when I moved in to the villages, 6 months later, found racoons and babies in my attic... been there for long time.... aaah $15,000 damage...yup, had to gut all the insulation Fl Health code, and damage inside attic. Sooo all depends how much out of pocket is ok with you.. almost forgot... golf cart.. hey off the road don't have to insure it... right... yup, smashed into some bushes curving out of the way from an intoxicated driver flying past me... but my passenger need to go to the Urgent Care for there hand, they did not have personal health insurance and because it was my golf cart (uninsured) I ended up paying out of pocket $1,000 for there Doctors Bill... Now I am golf cart insured...