Quote:
quote:Originally posted by richfaa
You know we have had homeowners insurance on our homes for over 40 years and I will bet that is a lot of money in premiums. We have never used the policy once. I guess we should have put that money in the bank and drawn interest all those years. I do know that if the house burned to the ground now with all its contents destroyed we would be out about 400,000. I doubt very much if the premiums and interest would cover that.
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A friend of mine in Florida is trying to disprove the whole homeowners insurance argument. They wanted over $3,000 a year to insure his home so he started from the first year investing that money. I guess if it doesn't completely burn down in the first 20 years he may save some money.