Two weeks ago I bought a new old house and the FIRST stop I made with keys and paperwork in hand was the insurance agents office. I’d gotten some quotes before moving in but they were too high (like more than 10% of the house cost high).
So today when I saw that a family who bought and began to restore their own 100+ yo home had it burned to the ground by a freak lightening strike, I was devastated for them.
Even a full rebuild of a home that age wouldn’t preserve all of the original charm.
However, they also discovered, after the fire turned their dream to cinders, that they don’t have insurance. So not just the purchase price but the work that went into the foundation, roof and renovations is lost.
It’s very sad.
And I’m sorry, but how the FUCK do you not ensure they insurance has been bought? I know the mortgage company was “supposed to take care of it” but it’s your life and money on the line!
I got a few more quotes before signing locally and those 2 days I was nervous as hell.
And this family, who I won’t name or link to, had raised nearly $10,000 from donors to renovate the home! If someone gave me ten grand you bet your ass I’d be increasing my coverage first.
Good insurance will protect your investment, mine covers 100% of the purchase price of my home, plus my personal property on top of that. It wouldn’t be enough to rebuild but at least I could start fresh.
I don’t want to pile on and I’m truly saddened for this family’s loss — thankfully no one was injured! — but this is adulting.
If you own, lease or borrow for a car, motorcycle, RV, house or business make sure your insurance is active and sufficient. Today. Because freak lightening strikes happen and I cannot cope with the sob story that begins with “we didn’t know…”