The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (48953)	2/22/2006 7:34:43 PM
From: orkrious	Read Replies (1) of 306849

I'm familiar with two insurance companies (my father's and my own) which seem to discourage owning this type of policy. Possibly because they have to sell a hell of a lot of policies to pay for a claim. I sure wouldn't go without one. I have a $2.0 mil policy for which I think I pay around $300. I only insure those things I can't afford to lose. That means, my house, my car, and my personal liability. It wouldn't even kill me if my car was totaled and it wasn't insured, but there's a decent enough chance of it happening that I don't drop the collision coverage. I don't buy any other type of insurance, whether it's on an appliance I buy or a car I rent. If my refrigerator breaks I'll buy a new one. But if I accidently run a red light and paralyze the father of four kids, I'm in deep shit. I'm not sure $2.0 million is enough coverage, but it's what I have. If I didn't have an umbrella policy and I had a serious accident I'd be very sorry. I'm a cheap bastard, but I'm not that cheap. Insure the things you can't afford to self-insure.

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