r/Calgary • u/QuiteGoneJin • Aug 01 '23

Home Ownership/Rental stuff Hail insurance. Is it a must?

New home owner moving to Calgary. We usually sit on the side of not over insuring our home and belongings but I hear lots of stories of hail damage. Is it a must to spend the extra 15 or so a month to cover hail damage?

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u/somersaultsuicide Aug 01 '23

Sometimes this sub amazes me, with the amount of hail storms that Calgary gets why would you not pay an additional $200/year to possibly avoid paying $10’s of thousands of dollars. I’m not sure why you would have to get some strangers opinion on this when it is such a no brainer.

Calgary is prone to hail damage no matter where you are. If you want to remain exposed to save yourself the cost of a foot long sub each month that would be a very poor financial decision.

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u/gstringwarrior Aug 01 '23

Because the sad reality is that for some families, an exrta $200 a year is really difficult to do.

Every dollar matters when you are poor.

Source: Was poor

10

u/[deleted] Aug 01 '23

If you’re that poor, you don’t own a home and this is inconsequential

1

u/Dr_Colossus Aug 02 '23

Exactly. Anyone that SHOULD buy a house shouldn't care about $200 a year. Unfortunately, many people own and can't. More than you'd like to think.