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 Posted: Mon Sep 22, 2008 9:45 am Post subject: i have no home insurance is it necessary |
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| i think it is not necessary |
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yogesh0505
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Joined: 22 Sep 2008
Posts: 18
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| Posted: Mon Sep 22, 2008 10:47 am Post subject: |
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| Quote: | | i think it is not necessary |
Well, the others may feel that its absolutely necessary for them to purchase coverage for their home. Homeowners insurance or the home insurance covers the home from perils both natural and man made, and protects the interests of the homeowner.
Home is a big investment for many, hence, many feel the home insurance need . |
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RupertWBradson
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Joined: 05 Jul 2007
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| Posted: Mon Sep 22, 2008 6:52 pm Post subject: |
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That's your choice. If you own your house and have no mortgage you won't have to have it. But why wouldn't you? For a small percentage of the value of your home (say 1% per year) you can have coverage for the rebuilding of your home and replacement of all your personal property. You would also have liability coverage for the event that you injure someone or are liable for property damage.
If you rent and your house burns down how will you replace your possessions? And would you want money for extra expenses due the fire (ie moving, increased rent, etc.
Anyhow, you didn't ask a question so I'll get off my soap box...
Please have a great day
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I am an insurance broker from Ontario licensed for all types of insurance.
Please visit my site: www.canada-insurance-source.com |
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OntarioBroker
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Joined: 09 Jun 2008
Posts: 108
Location: Ontario, Canada
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| Posted: Tue Sep 23, 2008 12:40 am Post subject: |
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I will echo Ontario. It's great that your house is paid for - one less bill for you to pay. I would think you would want it, and your belongings, replaced should something happen to it. And don't forget the liability issue - if someone hurts themselves on your property, regardless if you are home or if you invited them onto your property or not, you can be sued. Without insurance, if found responsible, you are on the hook for the judgement.
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LifeIsGood
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