If you’re a homeowner, you’ve probably grumbled at least once about how much you’re paying for insurance. But have you ever wondered what the consequences might be if you didn’t have to get coverage for your home? While you might think that’s you’re better off skipping insurance altogether, there are serious ramifications when you skimp on home insurance.
You’ll violate the terms of your mortgage
If you check your home mortgage document, you’ll find a clause that clearly requires you to get home insurance. Violate this clause, and you may find yourself facing foreclosure. More likely, however, the lender will simply take out an insurance policy on your behalf and bill you for it. When this happens, you lose the chance to go through policy options and you won’t have a say on how much you should pay. Read more from this article: http://bit.ly/2rw7uAU