Author Topic: Mr Money Mustaches 2016 budget- ??? does not insure house  (Read 11077 times)

I'm a red panda

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Re: Mr Money Mustaches 2016 budget- ??? does not insure house
« Reply #50 on: January 02, 2019, 01:40:43 PM »
Not a risk I would be willing to take.   Granted, he has mad construction skills and probably figures he can just fix any issue, but if it burns down or something - you would lose all your possessions as well as the structure.  Now I guess if you are worth millions and the max loss is only $300K then you figure you could handle that - but I can't handle a 300K loss.

This is one thing that makes him different than many of us. He is worth millions.

dragoncar

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Re: Mr Money Mustaches 2016 budget- ??? does not insure house
« Reply #51 on: January 03, 2019, 01:42:54 AM »
Not a risk I would be willing to take.   Granted, he has mad construction skills and probably figures he can just fix any issue, but if it burns down or something - you would lose all your possessions as well as the structure.  Now I guess if you are worth millions and the max loss is only $300K then you figure you could handle that - but I can't handle a 300K loss.

This is one thing that makes him different than many of us. He is worth millions.

If it was just structure replacement, I wouldn't insure.  I don't buy earthquake insurance in CA, for example.  But liability is a different story.  Unless MMM can bring the dead back to life or regrow lost limbs, which I don't put past him, I still think it's shortsighted to ignore forgo liability insurance.