I think BF is correct. Why bother paying premiums AT ALL if you cannot make a legitimate claim and have NO PENALTY as a result? It seems absurd to me. Just ranting... Your mortgage company requires it but also you need homeowners insurance in case of a castrophic loss. We are renting out the house my husband bought before we were married. Several years ago the house burned. It was about a 98% loss. Repairs were around $140,000. Insurance covered approximately $130,000. Handling the complete loss of a property is not something most homeowners are in a position to handle. Frequently it is not the size of the claim but the quantity of the claims. Since small claims can no longer be filed, it is reasonable to have a high deductible. Debra
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