Some people might say that insurance is based on the same principles as gaming, because you pay a certain amount of money on a regular basis (differs per policy), and dewapoker if something happens were you are insured for, you get the payout. And of course, the amount of the payout is for this amount you paid on a regular basis.
However, it’s is not exactly the same as gaming.
Home insurance protects you against damage from natural disasters, like earthquakes, fires, or tornadoes, but also against human actions, like robbery and vandalism. Depending on the region you live, a few your insurance covers the natural disasters which are typical for your area. For example, it’s no necessary to be insured against flood damage when you’re living near the Death Valley.
On the other hand, you shouldn’t be under-insured as well. You have to make sure your house is insured the way you want it to be, and not the way some insurance-seller wants it to be. Always ask yourself: If a fire is going to damage my home, what things have to be insured, and what is less important to me? Where are my priorities? Based on this question, you can go “shopping”, means you have a look at all the insurances fitting your needs, and then compare these to one-another.
Don’t all you have to the one with the lowest premium!
Of course there are cheap home insurances, offering discounted home insurances. But there is a reason they are so cheap. Usually the don’t cover basic stuff, and buying one of these insurances costs a lot of money in case of an emergency. You’ll probably have to pay the major area of the damage of off your own pockets, and in case of a house, this can ruin you. For example, a flood ruins your complete living-room plus furniture. You have to replace the chair, chairs, tables, television, a. s. a. Including this and other things, you have probably invested a few thousand bucks in just this one room. So whatever you decide to do, make sure you got the right insurance!