re: How many people here still have homeowners and/or flood insurance?

As an agency owner with 12 yrs under my belt and the weird scenarios I've seen play out in the this business... I implore anyone reading the OP to immediately ignore the OP.. That is absolute dumbassery at its finest..

For 1 a person's home is typically their largest investment, the transference of risk is always worth it.. Especially on a home.. Average HO3 in the BR area 12-1500 bucks that not a lot in the Grand scheme of things...

Also dropping flood completely especially after 2016 is straight Looney tunes... I could talk at length on this topic alone..

That said congrats on paying you house off, but seriously reconsider putting coverage back on you home..

I can see dropping extra insurances on boats, atvs, etc.. Mainly b/c those things won't break someone financially if completely ruined... You house though..

This is when those very very slim nearly impossible odds will sneak up and kick you in the nuts. Wait for an out of the blue hail storm, straight line winds, tornado, space debris or any one of a million other things you don’t anticipate. Homeowners is worth what you pay for it if you read your policy and understand deductibles and coverages

You are not very bright

Uhhh the liability insurance is important.

I have large property deductibles and if I lived in a flood ares I would have flood.

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Not sure what’s dumber, not carrying insurance in an at risk flood zone or not carrying a mortgage with 2% interest rates

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Have to keep all that equity warm for the eventual tort plaintiff.

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What do you get out of trolling? A few days ago you had no net worth and were bitching about 15/30/15 liability limits on your car. You're a sad little boy.

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Stop assuming that you know my financial situation

I had no net worth until I paid off my house

That’s how equity works, genius

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Stop assuming that you know my financial situation

I had no net worth until I paid off my house

That’s how equity works, genius

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Net worth is total value of assets minus total liabilities. So earlier this week you had no equity in your home, but suddenly it's completely paid off? frick off loser.

I agree with the OP. Insurance is scam -- I have owned properties for over 30 years, and I have never yet filed a claim. You can't -- if you ever file a claim for anything less than a catastrophic event, then you'll never be able to get insurance again.

I'm out of the insurance racket -- I own my house, I have cameras to catch "I tripped and hurt myself" thieves, smoke detectors, fire extinguishers, hurricane shutters, the works. I'd rather spend my money on preventative measures than giving it to insurance companies.

Some people like to be safe at all costs. Some people like to take reasonable risks. I'm the latter.

LINK

So here we find ourselves post-Ida with half the insurance companies having bailed on Louisiana, leaving many with only the even-more-obscenely-expensive, state-subsidized "Louisiana Citizens" policies as an option, which they are FORCED to purchase because the banks holding their mortgages say they must.

Don't play their game --

--Find the funds to pay off your note (you can do it)
--Give the finger to the insurance racketeers
--Dedicate your saved insurance premiums to disaster-proofing your property

Some people call this "going bare," others call it "self-insuring," I call it common financial sense.

Homeowner's Insurance is a racket.