Some Homeowners Cancel Insurance

With the economy cutting deeper and deeper into savings and incomes, some families simply cannot afford insurance. This includes health insurance AND homeowners insurance. For homeowners without a mortgage that is an option, but if you have a mortgage, your lender will require you to maintain homeowners insurance.

For those homeowners without insurance, they are just one hurricane or one fire away from being totally wiped out. A smarter choice would be to take small mortgage out on their property so they could pay for homeowners insurance. And if that is not an option, they are better off selling their home and renting until things change.

But owning a home without homeowners' insurance is only something for the very wealthy that can effectively self insure themselves.

Unfortunately, we are seeing more and more families dropping health and homeowners insurance. When tragedy strikes the burden of the uninsured is placed on the shoulders of the taxpayer through social services. So my final advice to those that are going without homeowners insurance is to consider a small mortgage or selling the home. You could lose your entire life's savings in one storm or fire.

Looking for a home in Florida? - I'd welcome the opportunity to assist you with a purchase of a home or condo. For additional information please call me 772-260-5448 or visit our website FloridaHomes.PRO

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