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Old 12-04-2010, 09:34 AM   #21
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I'll make the case for no property insurance at all. (If you have no mortgage?) I was with State Farm for years and the rate roughly tripled after the 2004 hurricanes. Last year I said "No thanks." I refuse to pay 1-2% of FAIR market value to insure against (in my mind) very small risks. Ah, now to worry about the reported sinkholes in my subdivision (welcome to Hernando County).
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Old 12-04-2010, 12:17 PM   #22
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Originally Posted by pedorrero View Post
I'll make the case for no property insurance at all. (If you have no mortgage?) I was with State Farm for years and the rate roughly tripled after the 2004 hurricanes. Last year I said "No thanks." I refuse to pay 1-2% of FAIR market value to insure against (in my mind) very small risks. Ah, now to worry about the reported sinkholes in my subdivision (welcome to Hernando County).
For boats it's even worst: 2-3%, of course the risks are probably greater.
TJ
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Old 12-04-2010, 03:57 PM   #23
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How does the risk for a boat go up 2-3% every year?
What are you doing every single year that raises the risk of something happening to it?
Do they expect us to incrementally build up inappropriate usage and storage of the boats until we get to the point where we just burn the boat down every single year and buy a new one?
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Old 12-05-2010, 10:41 AM   #24
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How does the risk for a boat go up 2-3% every year?
What are you doing every single year that raises the risk of something happening to it?
Do they expect us to incrementally build up inappropriate usage and storage of the boats until we get to the point where we just burn the boat down every single year and buy a new one?
I said that boat insurance runs 2-3% fair market value, referring to the other post where home insurance runs 1-2%
TJ
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