2007-02-20 15:18:31 · 8 answers · asked by yassine 1 in Business & Finance ➔ Renting & Real Estate
Yes yes and yes....freaky things happen and without insurance you can not only lose everything you have ever worked for but also the ability to replace it. You should also review your coverage annually to make sure you are covered adequately. If you don't own the get renters insurance its cheap.
I lost everything in a house fire caused by a short in a microwave last April. I had insurance so I am not homeless because of it, but I had not revised my coverage to keep in line with new aquisitions so could not replace 1/4 of what was destroyed but am grateful I had what I did or me and my son would be living in our car. Insurance is very necessary.
2007-02-20 15:31:59 · answer #1 · answered by Laura B 1 · 1⤊ 0⤋
It's the law if you have a mortgage. You can't finance a house without having insurance.
And if your house blows away or burns to the ground, what would you do? Good luck getting federal help if that happens.
So yes, insurance is necessary.
2007-02-20 15:28:16 · answer #2 · answered by Anonymous · 2⤊ 1⤋
Yes, unfortunately home insurance is necessary when ever there is a mortgage involved, But even if the property was paid in full it would still be recommeded. The small monthly payment well out ways the risk.
2007-02-20 15:31:13 · answer #3 · answered by CG 1 · 2⤊ 1⤋
If you have a mortgage, then the lender would require you to have home insurance. I suggest you to buy home insurance even if you don�t have a mortgage. Why go homeless because your house caught fire?
here they get you a price in 5 minutes: http://homeinsurance.nightbirdssolutions.com or http://homeinsurance.nightbirdssolutions.com/quotes.html
RE:
>Is home insurance really necessary?
>Is home insurance really necessary?
2014-11-02 20:38:23 · answer #4 · answered by Anonymous · 6⤊ 0⤋
First off, you can't get a mortgage without home insurance. The mortgage company needs their investment protected. Regardless of that..things do happen that can cost alot of money if you don't have insurance.
2007-02-21 00:12:48 · answer #5 · answered by KathyS 7 · 0⤊ 1⤋
Depends, if you have a mortgage then your lender will want your home insured-if anything happens they want their money. Other than that no. But since a home is usually a families largest investment you may want to insure it, not only from losses such as fires, storms, etc, but also if someone slips on your sidewalk and sues you - that would be stupid way to loose your home. Protect that investment.
2007-02-20 15:29:25 · answer #6 · answered by Robsthings 5 · 2⤊ 2⤋
yes....,at my point of view.you never know what will happen next...! Earthquakes,Floods or even meteor can do the damage.Big or small the damage is happen to us.so it's better to have a home insurance.
2007-02-20 15:29:57 · answer #7 · answered by nilanka k 1 · 2⤊ 1⤋
Are you kidding??? You are going to spend $100,000 or better for a home and if it burns down or something, you can easily replace it??? You have millions in the bank if someone falls on your property and sues you??? Must be nice....
2007-02-20 15:27:41 · answer #8 · answered by beetlejuice49423 5 · 2⤊ 1⤋
most Definitly unless you have a couple million dollars in the bank.
2007-02-20 15:56:58 · answer #9 · answered by Kevin C 3 · 0⤊ 1⤋