It is crucial to get the right insurance for your home. Your house could be lost without insurance. In this video, you will learn the advice of a financial professional to say about homeowners insurance.
In this episode of the Ramsey Show, Eliza calls to report from Florida. The husband she was married to had died and she’s taken full control of her finances. Although she claims she has her home fully paid off, she’s still pondering whether homeowners insurance is worth it. One of her friends seems to believe that cancelling the insurance is a good idea, but Eliza isn’t so sure. She says that her residence is only a couple of blocks away from the station. Dave insists that insurance can be worth the cost of expensive property like boats, houses or even cars. He also suggests that you make a phone call to the bank, and ask them end the equity line that is now in effect. In addition, he suggests buying the liability insurance. The most effective investment you can make in insurance is the liability insurance. Many millions of dollars can be covered in a few hundred dollars.