⚡️🇺🇸 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

Replies (17)

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.
Replacement cost is not hidden from anyone. People should take the time to read and ask questions.....and take responsibility.
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.
BS about the insurance companies not paying out. I have had a house fire and the insurance opened up their checkbook for me. Probably depends on the company, but blanket calling all insurance companies a scam is BS.
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casey 1 week ago
Im glad you were one of the fortunate ones but to say it isnt happening at all is BS too. It’s more nuanced that that. Becuase it happening all over in the US. Some companies are less corrupt than others.
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jhog57 1 week ago
insurance is a sad gambling and a fraud by design