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 .
Posted: Mon Sep 22, 2008 06:52 pm Post Subject:
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
Posted: Tue Sep 23, 2008 12:40 am Post Subject:
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.
Posted: Fri Feb 22, 2013 02:24 am Post Subject: Wind Damage
Our home recently suffered wind damage to the soffit & fascia area. The wind literally ripped the fascia board and trim off of the dormer area. The insurance adjuster denied our claim on the basis of pre-existing conditions ( rotted fascia sub framing & bird nesting ). Those conditions would have not occured if it were'nt for the fact that the wind had torn the fascia board loose. We live in Chicago, Illinois and its known as the Windy City. I think homeowners insurance is a waste of money. Our home is a brick bungalow built in 1922 and has yet to burn down, been blown down by a tornado, or suffered any major catastrophe including a breakin. If an insurance company wont cover weather related damages, what will they cover? I suspect nothing!
Posted: Fri Feb 22, 2013 04:30 am Post Subject:
If an insurance company wont cover weather related damages, what will they cover?
Problem is, they DO cover certain weather-related damage. But the adjuster has said that the damage was not the result of a weather-related cause, but rather rotting wood and animal activity. If you read your policy -- something most people never do -- you will find what is and is not covered. If they have unfairly denied a claim, you can ask the IL Dept of Insurance for assistance.
Posted: Wed Feb 27, 2013 01:16 pm Post Subject:
After hearing about Sandy incident, I wonder you asked this question.
It is a necessity now a days.
Posted: Mon Sep 22, 2008 10:47 am Post Subject:
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 .
Posted: Mon Sep 22, 2008 06:52 pm Post Subject:
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
Posted: Tue Sep 23, 2008 12:40 am Post Subject:
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.
Posted: Fri Feb 22, 2013 02:24 am Post Subject: Wind Damage
Our home recently suffered wind damage to the soffit & fascia area. The wind literally ripped the fascia board and trim off of the dormer area. The insurance adjuster denied our claim on the basis of pre-existing conditions ( rotted fascia sub framing & bird nesting ). Those conditions would have not occured if it were'nt for the fact that the wind had torn the fascia board loose. We live in Chicago, Illinois and its known as the Windy City. I think homeowners insurance is a waste of money. Our home is a brick bungalow built in 1922 and has yet to burn down, been blown down by a tornado, or suffered any major catastrophe including a breakin. If an insurance company wont cover weather related damages, what will they cover? I suspect nothing!
Posted: Fri Feb 22, 2013 04:30 am Post Subject:
If an insurance company wont cover weather related damages, what will they cover?
Problem is, they DO cover certain weather-related damage. But the adjuster has said that the damage was not the result of a weather-related cause, but rather rotting wood and animal activity. If you read your policy -- something most people never do -- you will find what is and is not covered. If they have unfairly denied a claim, you can ask the IL Dept of Insurance for assistance.Posted: Wed Feb 27, 2013 01:16 pm Post Subject:
After hearing about Sandy incident, I wonder you asked this question.
It is a necessity now a days.
Regards,
Rachel Diana
Business Analyst
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