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⚡️🇺🇸 WATCH - American is crying, she is devastated and losing her home to a fire She called her insurance and just wanted to rebuild the exact same home, no changes She can’t, because the value of her home has gone up, her insurance will only cover what it was worth years ago Now she has to sell off the lot to try and pay off her remaining mortgage and her family will have nothing When getting homeowners insurance what they don’t tell you is you need to make sure your homeowners insurance has ‘100% replacement cost,’ or ‘guaranteed replacement cost.’ Insurance in America like France is a scam, they do everything possible to not pay out

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Friends never understood my position on insurance no matter how hard I try to explain it. Insurance is bad business because it’s in the interest of one party of the contractual relationship. Example: if I sell Tomato, I am happy to receive your money, and I am happy getting rid of my tomato to you. With insurance, I am happy to receive your money, but I’m not happy paying out in the case of damage. That fundamentally makes it bad business. There must be a better way.
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There was a big fire just outside Boulder about 5 years ago. Same exact thing. Most people don’t adjust their insurance as home increase in value. Also, now with super liberal building codes, even if you do get the proper coverage you still get fucked because the building costs are astronomical compared to a decade ago.