GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Her solution?Self-insurance.
Last year, the U.S. experienced 28 weather and climate disasters totaling $1 billion or more, each.
Thats the highest number of billion-dollar disasters in a calendar year, according to theNational Oceanic and Atmospheric Administration.
Orman said Americans will soon have little interest in owning homes as insurance rates continue to climb.
Real estate is unpredictable.
WhileOrman can opt to self-insure, not every U.S. homeowner has that opportunity.
Im not paying $28,000 a year when the insurer will probably contest any claim I get anyway.
Luckily, I have the money to self-insure, Orman said.
$28,000 for a 2,100-square-foot condo.
Are you kidding me?
How Can You Lower Home Insurance Costs?
There are several methods to help lower home insurance costs.
Raising your deductible to $1,000 can save you as much as 25%, III reported.
More From GOBankingRates
Share This Article:
