Black People Screwed Again by U.S. Government

[boxcar]

Originally Posted by Ocala Mike

This is all boxcar needs:

"No evil shall be allowed to befall you, no plague come near your tent."

Psalm 91:10

+ This from the NT:

Rom 8:28
28 And we know that God causes all things to work together for good to those who love God, to those who are called according to His purpose.
NASB

Doesn't get any better than this!

[Tom]

Originally Posted by thaskalos

If I had a heavenly father looking out for me...then I too would cancel my homeowners insurance.

So much for THAT cup of coffee!

[TJDave]

Originally Posted by Tom

So much for THAT cup of coffee!

What do you use to clean your computer screen?

[Tom]

Paper towel, damp. Very damp.

[AndyC]

Originally Posted by boxcar

People who cant afford the big insurance nut?

For your info, I do not have HO insurance because to my mind it's a waste of money. No value to it. For me to insure my home in my location, it would run me at least $3,500. a year (and that was a few years ago!). This is why I decided a few years ago to invest in my home instead of enriching the Big Insurance Industry. I spent close to $20,000. upgrading all the openings in my home -- from the smallest windows to the garage door to the double shutters going across double glass sliding doors to my patio. Every single opening was upgraded according to the lastest hurricane codes. In another few years, all those upgrades will have paid for themselves with the money I saved not buying insurance.

Further, many years ago I invested in a metal roof for my house. So, I feel pretty protected. I would lose the roof decking before I'd lose the roof!

Plus we contribute regularly to our Emergency Slush Fund in the event that we should incur damage that runs into the tens of thousands of dollars.

HO insurance, generally, is a big ripoff. And a lot of my mortgage-free neighbors feel the same way.

Not knowing how much equity you have in your house or what other assets you have, I really can't speak to the sanity of your actions.

I know you're a big Dave Ramsey fan. https://www.daveramsey.com/blog/how-...ance-do-I-need

[boxcar]

Originally Posted by AndyC

Not knowing how much equity you have in your house or what other assets you have, I really can't speak to the sanity of your actions.

I know you're a big Dave Ramsey fan. https://www.daveramsey.com/blog/how-...ance-do-I-need

If you knew how to read, you would have learned that I own my house outright. (I did include myself in with the other mortgage-free neighbors in an earlier post.) That means I have 100% equity in my house.

And I think my rationale is sound. I took about 20K of my money and invested it in fortifying my house against wind storms. That action also immediately increased the value of my home. Paying insurance premiums don't do that.

And we contribute regularly to our "emergency fund" that is sitting in a high yield savings account. Paying insurance premiums don't do that either.

I see no upside whatsoever to paying exorbitant premiums to an insurance company, especially when those premiums are going to increase year after year.

The only insurance I do pay is flood insurance, even though I'm not in a flood zone per se. Flood insurance is still semi-reasonable.

[AndyC]

Originally Posted by boxcar

If you knew how to read, you would have learned that I own my house outright. (I did include myself in with the other mortgage-free neighbors in an earlier post.) That means I have 100% equity in my house.

And I think my rationale is sound. I took about 20K of my money and invested it in fortifying my house against wind storms. That action also immediately increased the value of my home. Paying insurance premiums don't do that.

And we contribute regularly to our "emergency fund" that is sitting in a high yield savings account. Paying insurance premiums don't do that either.

I see no upside whatsoever to paying exorbitant premiums to an insurance company, especially when those premiums are going to increase year after year.

The only insurance I do pay is flood insurance, even though I'm not in a flood zone per se. Flood insurance is still semi-reasonable.

Thank god that you don't have fires where you live or liability for accidents around your home. Probably no pipe and plumbing problems either.

I can certainly understand people who have their houses paid off not buying insurance but those people usually have ample funds to easily rebuild and pay for relocation expenses without any change of lifestyle. If you are in that camp good for you.

You make it sound like buying insurance or improving your home is an either or situation. It shouldn't be. The more equity you have in your house the more you are gambling. I know Dave Ramsey wouldn't approve of that.

Seeing how insurance companies generally have losses on underwriting property policies the "exorbitant" premiums, to use racing terminology is an overlay to the buyer.