Homeowners are increasingly forgoing home insurance, gambling that the likelihood of a disaster isn’t high enough to justify the cost of a policy. Some skipping insurance say they are doing so because they can no longer afford the rising premiums, while others, particularly among the wealthy, say they have enough money saved to rebuild or move elsewhere should their home be destroyed.
“It is a risky proposition to go without home insurance, and you need to fully understand the financial consequences if you lose your home,” says Noah Damsky, a financial adviser in Los Angeles.
https://www.wsj.com/personal-finance/americans-are-bailing-on-their-home-insurance-e3395515