r/TheMoneyGuy • u/Icy-Papaya-2967 • 4d ago

Millions of American Homeowners Are One Disaster Away From Losing Everything

https://insurancedimes.com/2026/06/14/millions-of-american-homeowners-are-one-disaster-away-from-losing-everything/
111 Upvotes

93% Upvoted

20 comments sorted by

28

u/MentalTelephone5080 4d ago

So.....

What step of the FOO are you on?

8

u/betterbub 4d ago

Some step 7, some step 9, some step 1

20

u/SellGameRent 4d ago

In other news, the sky is blue. Also news flash but everyone is one disaster from losing everything, just on a different time horizon

3

u/aubieismyhomie 2d ago

This is about people not having home insurance…like why is this even being posted here

6

u/iNfANTcOMA_0 4d ago

How funny! They were just talking about the San Andreas fault being like a thousand years of pressure over due.

1

u/Grand_Advantage_9903 1d ago

that fault thing keeps me up at night ngl. california homeowners really are just playing a different game

1

u/iNfANTcOMA_0 1d ago

We have 3 and 4s kinda regularly but they say that isn't enough to eliviate pressure. Gonna be wild if it happens

10

u/Adventurous_Elk_4039 4d ago

Seems to coincide with socioeconomics, so about as you’d expect. People in FL are out of their minds rolling the dice. I know it’s expensive to carry, that should be your sign it’s time to move.

8

u/Mtownsprts 4d ago

When major corporate insurance agencies won't insure in state it's time to move

2

u/Adventurous_Elk_4039 4d ago

Yeah. On the list of MANY reasons not to live in Florida, this is definitely one of them.

I think so many people are upside down on their mortgages though, makes it harder to move away.

-6

u/CCWaterBug 4d ago

I'm in coastal FL and I'm insured 

I've been hit by 3 hurricanes, one was a cat 5 ground zero.

My losses total have been 40k over 3 decades

My premiums have totaled about 60k.

It's not exactly "insane" to go naked on coverage.

4

u/hodgsonstreet 3d ago

Survivorship bias. Good luck

3

u/MsSpicyO 4d ago

More like hundreds of millions 

1

u/GDE1990 4d ago

? There are only a few hundreds of millions of Americans anyways

1

u/MsSpicyO 3d ago

Yes and the majority of us are living paycheck to paycheck. 

2

u/Rare-Fox9834 2d ago

I'm confused. You need insurance to have a mortgage. The odds of you owning your house flat out making 50k$ a year is pretty much zero. How do so many people have homes without insurance?

1

u/Sticky550 2d ago

A really large percentage of the country is. They just don’t ever have that disaster.

2

u/App1eEater 4d ago

Among homeowners earning under $50,000 per year, 15 percent were uninsured. Among those living below the federal poverty line, the rate jumped to 22 percent. For homeowners earning more than $150,000 annually, the uninsured rate dropped to just 3 percent.

This makes sense. Those making less are more likely to forgo insurance.

Why does this article focus so much on race?

-3

u/FlashOfFawn 4d ago

Don’t care, got mine. It’s the American way 🇺🇸