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How many people here still have homeowners and/or flood insurance?
Posted on 2/2/21 at 5:03 am
Posted on 2/2/21 at 5:03 am
Yesterday was the day that I finished paying off my house after 15 years and was finally able to drop my homeowners insurance. What a complete waste of money that has been. I technically live in a flood zone, but my house didn’t even flood in 2016. I even had an inspector come out before I canceled to make sure my electrical work was up to code so I won’t have to worry about a potential fire. I still want to be as safe as possible. It feels so nice to start saving money again and to not be strong-armed by the mortgage company. Anyone else do the same? Or better yet, are you looking forward to the day when you can legally stop giving your money away?
61
Posted on 2/2/21 at 5:08 am to Travis Scott
That's asking to get burned.
Posted on 2/2/21 at 5:09 am to Travis Scott
You is dumb
Posted on 2/2/21 at 5:13 am to Hat Tricks
quote:
You is dumb
Everyone seems to love making the insurance companies rich
I wonder what kind of kickbacks mortgage companies get for forcing insurance on their customers
Suckers everywhere
Posted on 2/2/21 at 5:14 am to Travis Scott
I know where I’m going to go break my leg, walking across their yard
Posted on 2/2/21 at 5:20 am to Travis Scott
Not wise.
Posted on 2/2/21 at 5:25 am to Travis Scott
quote:
Yesterday was the day that I finished paying off my house after 15 years and was finally able to drop my homeowners insurance. What a complete waste of money that has been. I technically live in a flood zone,
Not sure what’s dumber, not carrying insurance in an at risk flood zone or not carrying a mortgage with 2% interest rates.
Posted on 2/2/21 at 5:27 am to Chad504boy
Mine was a 15 year fixed at 3.5%
Posted on 2/2/21 at 5:28 am to Travis Scott
Sir! I hope you have FULL COVERAGE auto insurance with a $1 Million liability umbrella. Otherwise, you could find yourself homeless with a AT FAULT auto accident.
Posted on 2/2/21 at 5:28 am to Travis Scott
Today’s rates are much lower. Go pay your flood insurance and do a cash out refi
Posted on 2/2/21 at 5:29 am to Travis Scott
My house didn’t flood in the 83 flood despite most of neighborhood doing so
Lost everything i owned in 2016
Dont be an idiot
Lost everything i owned in 2016
Dont be an idiot
Posted on 2/2/21 at 5:29 am to AncientTiger
quote:
Sir! I hope you have FULL COVERAGE auto insurance with a $1 Million liability umbrella.
Comp and collision have nothing to do w carrying high liability rates
Posted on 2/2/21 at 5:31 am to Travis Scott
You guys do know he is trolling, right?
Posted on 2/2/21 at 5:31 am to Travis Scott
quote:
but my house didn’t even flood in 2016.
Get a survey of your house and most insurance companies will give you an elevation exemption from your flood zone = cheap as shite flood insurance and no reason not to get it. That’s what I did.
Posted on 2/2/21 at 5:34 am to SlapahoeTribe
quote:
Get a survey of your house and most insurance companies will give you an elevation exemption from your flood zone = cheap as shite flood insurance and no reason not to get it. That’s what I did.
So your house was a lot higher than BFE, not everyone’s is.
Posted on 2/2/21 at 5:37 am to Travis Scott
I hate carrying insurance, but if there is one thing I am OK carrying insurance on it’s my home.
Posted on 2/2/21 at 5:37 am to Travis Scott
quote:
What a complete waste of money
You say you technically live in a flood zone, have you ever come close to flooding in that 15 years? If not, drop the flood insurance, but if I were you I would keep the homeowners insurance. It would suck to have to pay for damage out of your own pocket if anything were to happen. That is just my opinion.
Posted on 2/2/21 at 5:40 am to AncientTiger
quote:
Sir! I hope you have FULL COVERAGE auto insurance with a $1 Million liability umbrella. Otherwise, you could find yourself homeless with a AT FAULT auto accident.
Another colossal waste
Life is all about practicing safety
If everyone would just treat life like a Basic Plus course, no one would be having accidents
Posted on 2/2/21 at 5:42 am to Travis Scott
I guess it’s all relative. My house is approaching 2M in value so the 2400/yr I pay to protect 2M dollar asset is no brainer. If I had a 150k house and 150k liquid, I may think otherwise.
Posted on 2/2/21 at 5:43 am to Travis Scott
quote:
Yesterday was the day that I finished paying off my house after 15 years and was finally able to drop my homeowners insurance. What a complete waste of money that has been. I technically live in a flood zone, but my house didn’t even flood in 2016. I even had an inspector come out before I canceled to make sure my electrical work was up to code so I won’t have to worry about a potential fire. I still want to be as safe as possible. It feels so nice to start saving money again and to not be strong-armed by the mortgage company. Anyone else do the same? Or better yet, are you looking forward to the day when you can legally stop giving your money away?
I am an insurance defense lawyer. Meaning I defend insurance companies.
I sincerely hope no one reads this idiotic thread believes any of this is a good idea.
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