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-down12cross-posted to: usa@lemmy.ml
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-square13fedilinkcross-posted to: usa@lemmy.ml
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.
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.