Quote:
Originally Posted by Bill14564
That's a rather hard sell.
Every home in the US would benefit from a LPS if that home happened to be struck by lightning, but what are the real odds of that? Those five pictures looked pretty bad, were they all from this year? All from the last 12 months? If you zoomed out a few times in google maps would you even be able to find those five rooftops?
I think of an LPS like a seatbelt, motorcycle helmet, travel insurance, or extended warranty: I have never benefited from any of these but I would kick myself if I needed one and didn't have it.
The odds are that a particular home will never be hit by lightning
The odds of a home being hit by lightning in Florida are a bit higher than most of the rest of the country
Lightning *does* hit homes and mine could be the next to be hit
My insurance will/should cover the loss
My insurance has a deductible which might be higher than the cost of an LPS
While the loss will/should be covered, there is a cost for the aggravation and inconvenience of fixing and replacing
I don't have an LPS now but am strongly considering one after I have my roof replaced
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The LPS gamble:
odds of being hit are tiny,
cost to install one time is mostly small relative to the current value of the house,
cost to replace house which was hit, very high, due to the monopsony of contractors able to rebuild the house, and the home insurance market in FL.
remember, the future is always uncertain, and at times, very uncertain.
If you have extra money, or are not planning a vacation, or have a significant gain to spend, the one time investment might be worth it. . the problem is, you may never know if it was a good investment or not. . just like flood insurance.
choose wisely Indiana