After my first dealing with my Homeowners Insurance. I am not sure that it is worth it. My first claim was for my dishwasher. As many of you know it has been a real pain to deal with. After submitting my claim and paying my $60 USD claim fee. I'm really only ahead $30 USD. They gave me a $90 USD to Nebraska Furniture Mart.
The only reason I have it now is that the Bank I purchased the foreclosed home from gave it to me for free in our negotiations. If I had the choice again. I would have taken the $450 USD and put it towards the cost of the house.
AB May is going to come out Tuesday to install my new dishwasher. That way it is still qualified for the homeowners insurance.
If a tree falls on your roof, it may be worth it. Small claims will make you question your insurance, but the bigger claims will make you glad you have it.
@Idaho- That was pure wisdom. Thank you.
insurance is a must!
I think that it's better to be on the safe side, just in case.
Definately worth it, I'm pretty lucky because the constituancy I live in offers its own regional insurance at cost, which is well worth its money.
Protip: Better to have something and not need it, than need something and not have it.
Also, sometimes the mortgage holder, i.e. bank requires you to have such insurance and also sometimes even flood insurance depending on how your neighborhood is zoned. Not much different than if you have an auto loan they require full coverage on the auto.