Quote:
Originally Posted by UncleWede
Many who don't have insurance were recently CANCELED by the companies that want to bail out of Cali.
Before his death 2 year ago, my dad quit carrying insurance on the retreat cabin. For a while after his death I checked and nobody would even write a policy. Now its about $7500/6 months for fire only. ROI is about 10 years to rebuild . . .
|
I understand re policy cancellations, but the insurance company gives you enough runway to get CA FAIR Plan in place before your existing policy coverage ends...I had to do this as a stop gap while I searched for alternate coverage...
Now, if you decide that you don't need coverage, that's a different story...
I guess it is tempting if you pay off your mortgage and the bank's requirement for insurance disappears...