3 ms·
There’s always a premium. Even if 30% of home value per year. The issue is the fair price for risk isn’t something people would want to ever pay.
by bushbaba 3y ago
There’s always a premium. Even if 30% of home value per year. The issue is the fair price for risk isn’t something people would want to ever pay.
- frumper 3y agoNor should they. If they could pay that ridiculous rate then they wouldn’t have a problem not having insurance. You’re presenting it as someone that buys a 300k house and gets a $1500/mo mortgage doesn’t “want” to pay $8500/mo in home insurance.
- xref 3y agoIt’s better insurance just isn’t available at any price. You can know going into the purchase that the home will be uninsurable so your financial picture needs to account for that. Also in general I don’t believe you can get a mortgage without home insurance? So people buying these properties would have to come in cash.