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Home > The Mission Daily > Homeowners Insurance for Beginners: When it Works, When it Doesn't, and Why it Can Feel Like a Scam
Podcast: The Mission Daily
Episode:

Homeowners Insurance for Beginners: When it Works, When it Doesn't, and Why it Can Feel Like a Scam
Category: Education
Duration: 00:16:41
Publish Date: 2023-10-06 12:00:00
Description:

Property investor Albert explains how homeowners insurance works, when it doesn’t work at all, and why the entire model can feel like a scam after disaster strikes.


Key Points:

  • You’re on the hook for upfront disaster mitigation and repairs. Insurance only reimburses later, often not in full.
  • With labor shortages, replacement costs far exceed insurance company estimates. They lowball based on pre-disaster rates.
  • Constant climate disasters mean constant claim denials. Albert asks - is insurance even worthwhile when it fails to protect you?
  • For homeowners insurance beginners, the model seems primed to collapse. Albert argues it needs an overhaul to actually cover people.


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