Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2025 Poal.co

1.0K

Not only do you pay property tax and a host of other fees, you have to pay homeowners insurance (which usually covers nothing) on top of that. Worst part, is the bank originating the loan (read making money out of nothing) is the one usually offering the insurance, creating a massive conflict of interest

Not only do you pay property tax and a host of other fees, you have to pay homeowners insurance (which usually covers nothing) on top of that. Worst part, is the bank originating the loan (read making money out of nothing) is the one usually offering the insurance, creating a massive conflict of interest

(post is archived)

[–] • 2 pts

"Got a mortgage? GOTTA have insurance."

"Gonna finance your car? GOTTA have insurance."

They're all rackets and they're all in on it.

[–] [deleted] • 1 pt

Car insurance is worst, by the time you get "discounts" on your insurance you've easily paid in more than your car is worth. My brother had a blown engine and they said it wasn't covered because the car didn't touch another car .... and that their engine insurance only covers newer models (they accidentally added it ti his policy anyways). Ended up in a salvage yard and he had to rush to find something new on the cheap. Kikes can all burn in hell

[–] • 0 pt

He was too honest. Upon finding out the thing needed a new engine it should have been reported stolen and torched.

[–] • 0 pt

I lost a home that wasn't insured and it was fully paid for. That was a bad decision to go without.

[–] • 0 pt

Now that the horse is gone, make sure you close that barn door.

[–] • 0 pt

Yeah, insurance for everything

[–] • 0 pt

This is one of the dumbest posts I've ever seen on poal.

I am a building contractor, I specialize in disaster recovery. When your house burns or has a major ass flood or gets hit by a freightliner I am the guy that comes and fixes it. So hear me when I say that I am kind of an authority on the subject.

>the bank originating the loan (read making money out of nothing) is the one usually offering the insurance

This is not true, banks do not offer home insurance, insurance companies do. Banks can only offer mortgage insurance to pay off your loan if something happens to you or something. So, there is NO conflict of interest.

>you have to pay homeowners insurance (which usually covers nothing)

Homeowners insurance covers virtually anything that can happen to your house. However there are some exceptions and you should be familiar with your policy to be sure that you have the appropriate coverage. Some things cannot be insured such as poor craftsmanship. If your home was built with no vapor barrier and water seeps into your walls and they rot away then it is not covered by insurance. If the builder used a shitty half sized beam to span across your "open floor plan" and it breaks in half and collapses then it is not covered by insurance.

Home owners insurance is to cover a "sudden and unexpected" loss. It is up to you to be sure that your policy has adequate coverage for you needs.

I can't tell you how often people buy the cheapest policy they can find without looking at the coverage or the deductible and then have a shit fit when their policy does not cover something.

[–] [deleted] • 0 pt

When lightning strikes your house and half of it is destroyed you will be glad you have that damned insurance.

[–] • 0 pt

Obviously, for the few who opt not to have house insurance, and see their house burn down or get destroyed in a storm, it was a bad decision not to go with the insurance. For the vast majority who never have a major problem with their houses, not paying for house insurance is a good decision.

I own a house, and I am not paying house insurance. Why? My insurance company raised its yearly rate by about 40% in 2000, and then raised it another 25% or so in 2001. I said "Fuck you!" and dropped the insurance. If I have a house fire that completely burns the house down in the next ten years, it will have been a bad decision. On the other hand, over a period of ten years I will be saving around 25,000 dollars. If my house doesn't burn down (which is likely) it will have been a smart decision.

Modern society is Jew-suranced to death. Take a walk on the wild side, live a little. Take a chance. That's what I'm doing.

[–] • 0 pt

They have to do it because most people are idiots and have no integrity at all and won't pay anything even if they could if something happens to their investment, such as a car or a house. In my opinion, if you dont have insurance and your house burns down, you should still have to pay the mortgage if you dont have insurance.

[–] • 0 pt

You can buy whatever homeowners insurance you want. You do not have to buy what the bank offers you. The reason why they make you have it is because no one is going to pay the mortgage once the place burns downs and they meed to ensure they won’t take an L. If you buy one cash you do not have to buy it. But you’re an idiot if you don’t. Fuck, I had wind damage to my roof and my insurance paid for an entire new roof at peak lumber prices. Worth every penny you morons.