I've always had homeowner's insurance whenever I've owned a home. It obviously is a requirement when you have a mortgage, and is tacked on by the mortgage company if you don't have it, (which actually happened to us 30 years ago after Allstate dropped our coverage after having 2 claims in 2 years) But a lot of folks have small older homes or even trailers that are paid for and deem it ok to not get coverage for various reasons.
I have a modest home, and a detached shop. We've had hail numerous times in past 5 years we've been here, and recently a bad storm came through and had some big stuff damaged roof and my pickup. My home is paid for, but I sure keep insurance on it. Put in claim and some money received for old truck, and just got the quote, approved by the insurance co. (Used their approved contractor as there are hundreds of guys up here vying for contracts)
The cost is at least double what it would have been a couple of years ago, approaching $40,000 which does include gutters. I about fell out of my chair. There is zero way I could have paid for this without a large loan. And others in same area which had tornado damage are finding this out too. Costs are extremely high, and if you don't have insurance, there are few options to get things fixed. So get or keep that insurance and make sure it is up to date on the amount... most homes have appreciated a lot.
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