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With low mortgage rates insurance cost not only are increasing but taking a propotrionaly lager share of the cost of owning a home.
Many would be better off forgoing the insurance and investing the premiums.
When a storm does come along a lot of people rush in to milk claims, getting new roofs etc when damages are reparable. However, just by saving the cost of insurance everyone would be able to replace a roof every few years.
For non nececary items like fancy pool screen encolsure - why bother. If you can afford this type of thing you need to be able to bear the cost of loss or just get a decent and livable home and keep life simple.
It seems that communties could come together and find a more cost effective way to protect property and homes. The open market/goverment manipulated system is suckng way to much resoruces from families that want to own and decent home for reasonable costs.
As far as the England's situation, I bet if someoen was to evaluate their lifestyle choices and saving/investment picture, I bet you would end up not feeling sorry for them. What would citizens charge to cover the entire property now? The Englands should have maintained a lifestyle to allow them to self-insure so to speak. I bet if they had invested the same amount as their premiums and paid closer attention to storm loss potential they could easily have saved more than enough to replace their unit.
Also, their home is not that flimsy. They went through Wilama and lost only a carport. What type of storm will it take to destroy their home?
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