Ask Terry Questions Home owners insurance

Home owners insurance

By Terry Savage on December 20, 2019 | Wild Card

I live in a tear down. My lot is worth more than the house. A claim would require me to build similar house. Or receive nothing.!
Do I really need home owners insurance?

Terry Says

Not if you don’t plan on rebuilding — and aren’t planning on committing arson! BUT, you might want to have the “liability” portion of homeowners, in case your “tear-down” happens to fall down on a visitor! Ask your agent.



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