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Home Insurance - a Must
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| Total Views: 263 - Total Replies: 8 | |
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Mar 31 2008, 11:13 pm - By bullysheful
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Are home insurances mandatory? In my country is not, although I think it's a very good thing. If I apply for an insurance plan what terms I should be careful to? Is there something to look for? I want to take this step but I don't know a thing in this field.
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Apr 01 2008, 2:55 am - Replied by: liowkc
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As far as I know basic home insurance is mandatory in most countries. Some lenders will only lend you money when you have some form of insurance. Anyway as you say, compulsory or not, it is always prudent to have insurance, be it the house, your life or whatever.
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Apr 02 2008, 1:52 am - Replied by: bullysheful
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yes,
you are right, if you want to lend some money you must have insurance, life insurance, home insurance you must be packed :P. Anyway it's a good , very good to have an insurance nowadays, because you can never know what can happen tomorow. |
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Apr 04 2008, 6:52 am - Replied by: matyzyz
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I think that home,life insurance are a good thing and need to be mandatory at least the home insurance because life is full of unexpected things and you don't want to live in a tent at the mercy of the authority in case of something.
P.S. How much is a home insurance for a year in your country? |
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Apr 04 2008, 7:53 am - Replied by: Cymru
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I'm not sure if it is mandatory in the UK, if you do not have life assurance and you die, your partner loses the house if they cannot afford payment and the mortgage company would get the house - It woul dbe good to have a definative answer
Matyzyz - Its roughly costs my partner and I £50 a month for our cover |
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Apr 04 2008, 8:45 am - Replied by: liowkc
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I realize that we are talking about at least 2 kinds of insurance here - mortgage insurance (when you died or become disabled, your mortgage will be taken care of) and home insurance (such as fire, floods and belongings in the house). They are totally different in nature and should not be lumped together.
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Apr 04 2008, 1:43 pm - Replied by: bullysheful
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I'm just curious, do you have an insurance plan? If you do , what company have you chose? I'm very interested in applying for one but I cannot decide on a company. Prices will be good to... thanks |
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Apr 06 2008, 10:38 am - Replied by: countrified
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In US if your home is financed, it is mandatory but even if it wasn't mandatory I would still have insurance because if something were to happen I would need a new home and insurance could help pay on the one that had been damaged.
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Apr 06 2008, 5:26 pm - Replied by: liowkc
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Well said, insurance whether voluntary or mandatory should be in place just in case disaster strikes. I guess when it is compulsory, it makes the decision for you to be insured. If voluntary, you may cut corners to save some money.
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