Soaring insurance, and when you need help the insurance cancel your policy, total rip off!

@bryanrabalais

Ай бұрын

And when you attempt to use it, they'll only pay a fraction of what you need

@staceywilliams1863

Ай бұрын

Never filed a claim and shit goes up every renewal! Wtf are my refunds for never filing a claim and paying all this damn money!

@stevenotero2627

Ай бұрын

Insurance is a scam. A grift. A racket.

@Vinny.X

Ай бұрын

They live under sea level and being buried under water again is inevitable. Truth is insurance is probably way too low in New Orleans to cover the risks.

@jeannetteduette6704

Ай бұрын

Why not cancel the insurance and save the amount you would have paid on the monthly insurance premium to an emergency account, invest that amount while significant building an emergency fund without having to pay deduction in event you have to use it! It's a gamble but you are building a cash reserve!

Taxes and insurance. Two biggest scams ever.

@princessmarlena1359

Ай бұрын

💯

@jonlj77

Ай бұрын

Accurate statement

@joeuser633

Ай бұрын

Such ignorance

@RAREFORMDESIGNS

Ай бұрын

Don't forget the useless and totally unnecessary Realtors.

@divingduck9

Ай бұрын

yep, & coincidentally both homeowners insurance & county property tax revenues were implemented right after jekyll island's federal reserve scam & internal revenue service started up. also when rockefeller cooked up allopathic medicines & started a worldwide drug war to stamp out neighborhood herbal medicine growing. tyranny on the rise...

They want your house, so everyone can be renters!

@freedomforgiveness6041

Ай бұрын

Well said

@beasaroseco5840

Ай бұрын

Or knock it down for development.

@smith7388

27 күн бұрын

Bingo

@earnestcharles9513

14 күн бұрын

I can believe that. 😢

Cancel the insurance if you own the house.

@acer4237

Ай бұрын

If you have the money for full replacement, but bad advise if God forbid a fire.

@pinecone1321

15 күн бұрын

You're in Louisiana and you probably don't have any kind of flood insurance so that's probably a good idea.

If she owns the house, she doesn't have to have insurance. I know a couple in Florida who went without homeowners insurance for 20 yrs and saved $100,000; it was a risk they were willing to take.

@staceywilliams1863

Ай бұрын

That wouldn’t be wise especially in a city like New Orleans that’s prone to flood.

@staceywilliams1863

Ай бұрын

@@jamesa.smith.7794Not wise at all unless you have the funds to repair on your own in the event of flooding or any other disaster.

@kibblenbits

Ай бұрын

@@staceywilliams1863 Homeowner's insurance doesn't cover flood. You have to have flood insurance, and that is WAY more expensive than regular homeowner insurance.

@bobroberts2371

Ай бұрын

Note that home owners insurance protects you from being personally liable if someone slips and falls on your property. Without insurance, they will sue you in to oblivion.

@johnleebass

Ай бұрын

​@@staceywilliams1863 you obviously don't own a home and you don't know what homeowners' insurance covers

It's not just New Orleans.

@LuckyBelafonte

Ай бұрын

But it's been a Nola problem for decades. It won't stop. City is shitty anyway. Get out

@spacesoup6797

Ай бұрын

yeah lets build a whole city in swamp land pump all the water out -.- or even better lets build a city in the dessert where there is no water. All of these problems are a testament of mans arrogance

@gphilipc2031

Ай бұрын

But Mitch Landrieu then Cantrell ... OMG, what could be worse.

@MsBlueHand

Ай бұрын

@@gphilipc2031 Like the mayor controls the insurance industry????

@acer4237

Ай бұрын

@@LuckyBelafontedon’t head to Texas, it’s full

If she owns the home outright she can always drop the insurance, and pocket what the premiums would have been for a financial parachute. Why sell such a beautiful home? You're allowing the banks and insurance gangsters to win.

@freedomforgiveness6041

Ай бұрын

I agree

@allthingsnu4673

Ай бұрын

I was going to say the same thing but you've already said it. People in Florida are doing it.

@neilkurzman4907

Ай бұрын

She can also afford to sell it at a lower price. If she’s not getting offers, then she’s asking too much.

@neilkurzman4907

Ай бұрын

@@allthingsnu4673 And when a big storm moves to Florida, all these people aren’t going to have enough money to rebuild their homes. So what are they gonna do the man the federal government help them out or they just going to walk away?

@CraftEccentricity

Ай бұрын

@@neilkurzman4907 If you put away the equivalent of insurance each month, you will have plenty for repairs. Homes don't get damaged every single year, and with high unemployment, finding repair deals is easier.

Criminal, this should never be happening in this country especially to our seniors.

@ladywithclasscarpenter1143

Ай бұрын

The Insurance commissioner should be investigated! Could be dirty business dealings going on.

@tyd8077

Ай бұрын

That's capitalism baby. You can't force a private company to insure something for free or cheap.

@667SatansNeighbor

Ай бұрын

Wait... she was able to buy a home??? Tots and pears... I will send her all my tots and pears.

@joeuser633

Ай бұрын

So you subsidize them then. Or pay for her repairs in case the Gulf Coast ever has another hurricane /s

@butterflylanding3592

Ай бұрын

The city is below sea level with an extraordinarily corrupt city government that pockets the money for repairs and up keep of the levees. The next Katrina scenario is just one hurricane away. I’m shocked they still insure homes and businesses in New Orleans.

All you young people that will be your future. Those corporate American companies are treating people like trash.

@12thWardGator

Ай бұрын

The record low voter turn out for the 1998 presidential election set up the congressional session that allowed cooperations to be considered citizens is what caused this. I wish the older generation gave that issue attention instead of making fun of a 20 something year old intern that was exploited by her boss.

@BrooklynBaby-1

Ай бұрын

They actually Chinese companies with an American Shell

@teebone2157

Ай бұрын

@@12thWardGator weak state governor is the problem not anyone in white house

They'll gladly accept your $$ for insurance as long as you don't actually use it.

County Appraisal Office: Let's price residents out of their home through property tax. BlackRock: Lets shake on it!

@neilkurzman4907

Ай бұрын

So do you think all that tax money goes? I know you think it’s all stolen.

@cindifischer6919

Ай бұрын

That's exactly what is happening. We moved in our home in 2017 and taxes were $1,800 a year and now they are 3,500. House insurance went up 2200. bucks since we moved in. Sometimes wonder what the county does with all that extra money from every single house that the appraiser assessed at. Did no good to fight it, they said it is what it is and they pretty much said that to everybody that went into complain.

@saythankyou111

Ай бұрын

@@neilkurzman4907…..ummm we know where it’s going by the trillions……out of this country, the illlegals will be called to duty soon….🇺🇸☠️✊🏾

@cowboydelnorte3078

Ай бұрын

I’m ignorant about a lot of real estate however, if you buy a home, own the home, no more mortgage. But then property taxes and homeowners insurance is the real mortgage payment for life smh. So in America, you’ll always pay the government? We can’t ever just finally own our land and homes outright? We fukn fools. We will blame the blacks for this and whites for that oh and collectively say fuk the immigrants and the police etc smh all the while we’re separated on dumb shxt the gov is fukn everyone over. Ftw 💥

@harlanjackson6112

Ай бұрын

This woman is paying $10k/year in property tax and $20k/year for insurance. I think insurance costs are the real rip-off here.

She needs to rent out a room or something. Insurance should not be a reason to sell such a beautiful home. Plus, I seriously don’t think she will find a nice to rent that’s much cheaper. She bought this home in 1995 and even buying a smaller place might cost way more. I absolutely love this home. I grew up in this neighborhood. I would totally be her housemate and help her out.

@microbios8586

Ай бұрын

I agree. $2500 a month when she's not paying a mortgage seems high but doable with a few tenants. At least she can stay in the neighborhood so her quality of life wouldn't be too badly affected.

@divingduck9

Ай бұрын

go tell her

@french.25princess

Ай бұрын

​@@microbios8586It costs less than a retirement home too.

@catzlady.8189

24 күн бұрын

Agree. Rent a room or multiple rooms.

@puddincup9879

24 күн бұрын

Because your crack pot idea is logical?

Yep, I’ve got family that lives there, now their monthly homeowners insurance and property tax cost more than their mortgage payment. It’s crazy.

@PumpkinKingXXIII

Ай бұрын

@@James-to7pi not is your house isn’t paid off, they have 18-20 years of mortgage payments

I loathe insurance. It's what I call "throw away" money. You pay, pay, pay and get nothing out of it. CEO's make billions. If this lady owns her home, she should just self insure.

@moondancer334

Ай бұрын

Self-insure?

@divingduck9

Ай бұрын

@@moondancer334 where u take responsibility for everything that happens to ur house, instead of paying some corporation to do it. like medical savings accounts

@RodSherwood1

27 күн бұрын

@@divingduck9most people would not be able to buy a house or a car for that matter if there weren’t insurance companies. You realize that, right?!

@divingduck9

27 күн бұрын

@@RodSherwood1 oh sure, its a choice, & the young r nudged into it. but u have freedom to wise up & opt out. how long it takes u is a measure of ur conformity, gullibillity, fear etc. 70+% will take UNTESTED EXPERIMENTAL injections if their screen 'authorities' tell them thats how to achieve security:) had ur boosters?...

@divingduck9

27 күн бұрын

@@RodSherwood1 oh sure, its a choice, & the young r nudged into it. but one has freedom to wise up & opt out. how long it takes u is a measure of ur conformity, gullibility, fear etc. 70% will take UNTESTED EXPERIMENTAL injections if their screen authorities suggest thats how to achieve security:) had ur boosters?

This is happening all over our country. Pretty soon there will be more of us senior citizens living on the streets.😡😡🤬🤬

@steven4315

Ай бұрын

I pay $717 a year here in Indiana for home owner's insurance but we don't get a lot of hurricanes. Maybe before living on the streets, move to a more affordable area.

@Bonafide188

Ай бұрын

No its not. My homeowner's insurance is only $800/year and flood insurance is only $600/year. Maybe move somewhere less prone to natural disasters. It's not hard to figure out

@kelleemerson9510

Ай бұрын

No big increase this year for homeowners or vehicles. Everything is paid for. Is that the difference?

@gphilipc2031

Ай бұрын

We used to get our big cardboard boxes (clubhouses) at Comeaux on Vets. Looks like some will be getting back into that scene.

@mjblue84

Ай бұрын

That's the "plan". WEF. "You will own nothing and be happy."

They using fancy terms like "algorithms" to justify price fixing. this is affecting so many different markets. no one's doing anything about it.

To hell with these insurance companies

@bobroberts2371

Ай бұрын

Then start an insurance co and do a better job. Seems that you would have an instant customer base by the end of the week. What is stopping you? Lame excuses to follow.

@mjblue84

Ай бұрын

Exactly!

Thirty years ago attorneys would not accept property claims, now Public Adjusters and their lawyers have devoured the Property & Casualty industry in just under 5-years. Lawmakers in every state helped by allowing one-way attorney fees and assignment of benefits abuse. Their corruption has left every homeowner in peril. The fact that lawmakers have skin in the game is a problem! It started as a Florida problem and everyone blamed it on storms, storms weren't our problem initially, fraud and abuse by some of the biggest names in the State brought us down.

Good luck to her. I know people who have been trying to sell their New Orleans real estate for over two years now.

@safeandeffectivelol

Ай бұрын

Someone will buy at the right price. Sellers want early 2022 prices when rates were around 3%

@Chinaglo24

Ай бұрын

No buyer em. How does this government allow this is beyond me.

@neilkurzman4907

Ай бұрын

@@Chinaglo24 So you think the government should force people to buy houses? Or do you think they should force insurance companies to lose money? Florida and California tried that they simply left the state. The government can’t fix every problem.

@barkmaker

Ай бұрын

@@safeandeffectivelol, it's a 5 unit rental in the heart of the French Quarter asking $1.2 million across from the Royal Orleans. I remember a time when it would have cost you close to that for one of the units.

@barkmaker

Ай бұрын

@@Chinaglo24, fortunately our government doesn't force many people to sell their property just yet. ...but to answer your question more directly, because the government can't claim eminent domain without proving some sort of necessity. ...normally.

Wouldn't it be better to get a roommate to cover the expenses, rather than lose something you had with your husband? Maybe a family member, or someone you know and trust?

@lalagardenia6500

Ай бұрын

That's the difficult part - finding a good trustworthy person these days seems impossible!

@ST-rj8iu

Ай бұрын

@@lalagardenia6500 and the squatting. ugh!

@TheLittleLambTalks

22 күн бұрын

Not necessarily a roommate, but she can sub divide the space and make it safe for her to continue living in her own home without the invasion of privacy. The house is big enough. She can subdivide and give potential tenants private access to their unit only.

She need to Rent Rooms out to other older women...

@imetaboyiusedtoknow8308

Ай бұрын

Taking in tenants is a headache, a safety issue and leads to higher insurance.

@Goodkidjr43

Ай бұрын

@@imetaboyiusedtoknow8308 False. The key is to be discriminating in whom you rent to. People have been doing it for centuries.

@gphilipc2031

Ай бұрын

Good Idea!

@dstaff7373

Ай бұрын

@@Mimi-ht6xr fine Print Contracts...

@imetaboyiusedtoknow8308

Ай бұрын

@@Goodkidjr43 Times have changed and not for the better.

That's very sad. It's a beautiful house.

@redriderbbgun8018

Ай бұрын

Shannon, you are beautiful 😍

@Antony..24

24 күн бұрын

Some rich insurance guy will buy it.. Sad

Couldn't use my insurance for the storm IDA, agent told me he had no intention on paying for anything! Louisiana helps with nothing!!

If she owns her home outright she does not need to have insurance.

@Detailingcrazy

Ай бұрын

Oh wow, that's great advice. Lol

@you-in-yourfeelings7166

Ай бұрын

I don't think she owns it yet. I think thats the mortgage coupled with insurance.

@barkmaker

Ай бұрын

@@Detailingcrazy, I've been self insured since the mid nineties. With the amount of money I've saved on not having to pay insurance, I could two more houses by now. Self insuring isn't bad advice. It's just risk taking like any investment. You're making the same bet that the insurance company makes when you self insure. It's only a bad thing if you don't keep enough money aside to make any necessary repairs if something were to happen.

@EXREPUBLICAN

Ай бұрын

​@you-in-yourfeelings7166 yes, she said she owns it. Her taxes are frozen because of her age, and the homeowners insurance comes to $2500/month...

@vickilindsey4499

Ай бұрын

@@you-in-yourfeelings7166 she stated in this video that she owns the home outright, no mortgage. She could ditch the insurance but she may not want to take that risk.

It’s also a tactic to get people out because they want their properties. Shame! Shame!

She has 4 bedrooms and 2 baths. She could find a couple of retired folks to share the home or rent out a bedroom or two.

@markbajek2541

Ай бұрын

at that point she should sell and just move into a higher end apartment complex.

@yellowbird5411

Ай бұрын

@@markbajek2541 I think it depends on how attached she is to the property, and how able she would be to cover the bills if she were to rent some spaces. She may be more ready to sell now that she is alone there and it is a big responsibility in her senior years. So many just want a more manageable space, but it's hard letting go of your past and your extensive collection of belongings. It is hard work downsizing, and very difficult emotionally.

@JaneTheDoe-id2vx

Ай бұрын

she could, thats how my mother paid her mortgage but she had bad renters who would steal from us

If your home is paid for, you don't need to buy insurance. It's nice to have, but it's not necessary.

@bobroberts2371

Ай бұрын

No home owners insurance exposes the owner to personal liability. Someone gets injured on your property and you will end up losing the house in a law suit.

@johnbartholf777

Ай бұрын

@@bobroberts2371 I bet liability insurance is a lot less expensive than full replacement coverage.

@bobroberts2371

Ай бұрын

@@johnbartholf777 said " I bet liability insurance is a lot less expensive than full replacement coverage. " I'm not so sure this can be had as a stand alone option. I do know that a person can buy personal umbrella insurance but this is typically for people that have major assets and is in addition to home owners insurance.

@divingduck9

Ай бұрын

@@bobroberts2371 or u just payout WHEN theres a problem, not before. very few claims cost as much as ur whole house

@SB-tc2jr

Ай бұрын

@@bobroberts2371 In this situation, I think I'd take my chances... (not many choices)

As a Louisiana native/resident, my home is 200 miles inland from New Orleans. However, I am “still” paying a special assessment to the state run Citizens’ Insurance for Hurricane Katrina (2005) and there has never been a claim filed on my home in 50 years. But my homeowners’ insurance has doubled in the past 6 years. Let that sink in. Our entire system (education, housing, political, healthcare, food distribution, transportation, etc) is in a free fall. “The chickens have certainly come home to roost.”

@redriderbbgun8018

Ай бұрын

Drop your insurance altogether then. Pocket the money yourself...lots of people do it.

@ryanwalters6184

Ай бұрын

It's like that everywhere in the south.

@user-uo4rf4ez8c

Ай бұрын

Ahhh.. socialism at it's best...

@jacquelineduplantier5563

Ай бұрын

@@redriderbbgun8018, I am still “on the fence” regarding self-insurance. But I have established a dollar threshold where self-insurance will be a viable option.

@jacquelineduplantier5563

Ай бұрын

@@user-uo4rf4ez8c, profits = capitalism. Losses = socialism.

Why doesn't the woman, just go without insurance? She can do this, because she owns the property outright. The risk of going without insurance is less than the price that you have to pay to get insurance. Just put the money that you would spend on insurance in the bank. The banks and insurance companies have made paying insurance premiums a must have over the past century. Centuries before that most people didn't buy insurance. Looks like her house has been there for a long time and it hasn't been a total loss yet. Chances are that nothing will happen to her home again this year. Keep in mind that buying insurance means that you are betting you will have a loss this year, where as the insurer is betting that you will not have a loss this year.

a lot of people are in this situation.

@Antony..24

24 күн бұрын

Same insurance scam..

I was wondering how long it would take these insurance companies to leave Florida and now targeting New Orleans, it’s also a flood zone.

It would be better for her to not hold insurance and pay that $2000 in a Separate bank account. Basically insure her self.

@lulupiink6698

Ай бұрын

Imagine if she had put that mo $2500 into a brokerage account & invested it into the S&P 500 or nvda stock years ago?! 💸💵 instead it went into the pocket of insurance co.

@markbajek2541

Ай бұрын

Yes and no , let's say she cancels her insurance and banks $2K for 6 months and a big event happens, a tree falls and takes out the upper floor and living room or a fire , that $12K isn't going to cover much..

@ehjohn027

Ай бұрын

I agree. She currently owns that land and if she had enough money saved up, she could rebuild. Compared to paying insurance for her home only to wait for their approval or denial if she had property damages. For now, maybe get roommates and save up her money. I feel sorry for her.

Have a friend that lives in a 4bed house and circumstances resulted in severe finacial struggle...she rented out 2 rooms to young professionals.... huge financial ease. .

"You will own nothing and be happy." Nobody is happy.

@TheLittleLambTalks

22 күн бұрын

It’s unbelievable how many Americans have their heads in the sand!

2500 per month in taxes ? Ouch and I have a home in CA! Her house is worth the same as mine...

@you-in-yourfeelings7166

Ай бұрын

Not taxes, her age makes her exempt, it's the insurance.

@MsRotorwings

Ай бұрын

@@you-in-yourfeelings7166yes, taxes and insurance. Her age makes it fixed, not exempt.

@majorlagg9321

Ай бұрын

@@you-in-yourfeelings7166 Okay. Who listened to the video? She's not exempted from taxes. They are frozen. Her taxes and insurance is what costs her $2500 a month.

@dyates6380

Ай бұрын

@@you-in-yourfeelings7166 Not exempt, but capped. I'm still sure it's expensive though. Lovely home so that's something the tax assessor loves about it. Best of luck to her.

@safeandeffectivelol

Ай бұрын

@@you-in-yourfeelings7166 Property taxes plus insurance is $2500/mo. Seems like her mortgage is paid off.

Too bad she didn’t list the house two years ago. House probably would have sold overnight.

Per month?! Wow…this must change.

OMG! It's a cute home. Perhaps she could turn it into a Bed & Breakfast! There's lots of history as can be scene in the photos taken by her late husband. Or rent out a couple of rooms! I'm praying for her!

Ok so sell house and pay rent that constantly goes up? Genius

@nicolcacola

Ай бұрын

Landlords couldn't rent a house at that same price. Personally, I'm saving 1,000 a month renting vs buying. "Genius" indeed.

@nicolcacola

Ай бұрын

@@James-to7pi No one with sense is buying in this market. If you assume my comment renting for life, perhaps you should learn to ask questions.

@neilkurzman4907

Ай бұрын

And how long would it take her to spend $800,000 in rent?

@neilkurzman4907

Ай бұрын

@@James-to7pi She’s not able to get a buyer at 1.1 million. So maybe she no longer has $1 million house. Historically housing prices have gone up and down.

Don’t pay insurance if you own your home I don’t

Just cost too much to own a home around these costal and tornado prone area. Plus you have to contend with floods. Florida, Louisiana and all these areas have gotten ridiculous.

Hi Cheron. Maybe consider self insuring if you own home outright? That’s what I did….first I just lowered the amount I was insured for, example: Instead of a $1.1M policy, raise the deductible, then get a “cap” say $350k. So no matter the amount of damage, max insurance payout is only $350k . Costs much less. Then take the savings difference and put into a self insured account. Do this for 10 years and then , after building up some reserves, drop coverage altogether, and increase payments to your own insurance account. Think, you’re paying $2500 a month? Where will you live in the city , in a proper home and location, that doesn’t cost that much, or more? Sure, a small condo maybe but even then , perpetual HOA payments along with special assessments can be pricey as well. Good luck.

@ElizabethHarley-ld3iv

Ай бұрын

great suggestion.

If there's no mortgage. Drop the insurance. And put the money in a savings account.

Insurance used to be good while you pay and don't make any claims. Now you can't afford it no matter what. Disgusting

Why does 1 lady need a 3500 sq ft home? She should have sold long ago and moved into a newly built 2bd condo and enjoyed the remainder of her life.

@daltonhanleyjr4142

Ай бұрын

Then, she would have to deal with a shady HOA. Also, HOA fees and insurance have been escalating just as fast as this lady's insurance nationwide. Unless you live on some land in a rural area, there is no escaping this. This is happening in major metropolitan areas nationwide. The glut of natural disasters have forced these insurance companies to finally have to give up some of the money they have taken from property owners for years and they don't like the fact that the coffers are significantly lower than usual.

@lulupiink6698

Ай бұрын

Sharing walls w loud neighbors sounds lovely

@daltonhanleyjr4142

Ай бұрын

​@lulupiink6698 Yeah right!!!😅

@johnnyfive1412

Ай бұрын

@@lulupiink6698 --- Sound does not travel in newly built condos. Multiple layers of sheetrock on shared walls and concrete slabs between floors.

What a beautiful, charming home.

Not just happening in Louisiana....Texas too! Considering selling my home due to the high insurance costs.

@prettykitty5416

Ай бұрын

But then what? Rent at these astronomical prices????? You better off keeping your home unless you plan on living in a tent or mini van.

@itsnotme07

Ай бұрын

@@prettykitty5416 LOL You're right, best to have a plan in place before doing what I'm considering. Or maybe I'll just get a job that pays more and stay here? Haha. Thanks!!

Homeowners insurance keeps increasing every year even without any claims no matter what state you live in.

@divingduck9

Ай бұрын

car insurance too, and u hafta have car insurnce, whereas home insurance optional

@eile4219

Ай бұрын

home price also keep increasing. You can get it cheaper if you value your home at much lower price. For example, you agreed that your home only wroth 200k instead of 1m, then if anything happen, insurance will only pay 200k max.

They all enjoyed seeing the values of their properties increasing incredibly. This is the result. Higher property values does not benefit the homeowner unless you're selling. You've all been played.

@markbajek2541

Ай бұрын

She got her property taxes to lock in and it was manageable for her, the doubling of Ins costs is what's breaking the camel's back in this case..

@paxundpeace9970

Ай бұрын

It does benefit you. Property taxes are trailing and limited in rise depending in location. In addition for seniors or homestead they are capped. I you own your home you don't need insurance.

@starlinghaskins9459

10 күн бұрын

Dear, madam or sir.. You are wildly misinformed if you believe an increase in property values doesn't benefit the homeowner. Real estate is a HARD asset that increases one's net worth. A homeowner increases his or her net worth by holding onto that asset for an extended period of time until they want to cash in on that hard asset and sell. Either way, it is a positive for the homeowner, not a loss. I am baffled how many people don't understand the basics of assets, net worth and benefit of homeownership. EX: my uncle built a home for $277,000 dollars. He lived in his home for 20 years. We sold the house for $626,000 when he died. A large percentage of his $1,500,000 estate was from property value increasing over the years. Everyone's situation is different, but fortunately it worked out for my uncle and the family. $1,500,00 dollars will be passed down to multiple generations. Generational wealth.

At 1:25 "Between property tax and property insurance, Brylski has been paying $2500 per month to stay in this home". According to Zillow, property tax on her home (3418 Coliseum st, New Orleans) is $10k/year, or $833/month, leaving $1667/month, or $20,000/year to insure a 3400 sf home. She owns it free and clear, so what stops her from self insuring? Which also begs the question, WHO is the state's Insurance commissioner and how did they get there?

@dekaywill4572

Ай бұрын

Well - you have Windstorm, Flood and Homeowners on a million dollar house, so yea $1667 is cheap.

@harlanjackson6112

Ай бұрын

@@dekaywill4572 If it were $1667 per year, I would agree. But holy crap, how can folks in New Orleans (where the average salary is $65k/year) afford to pay nearly half that salary (MORE than half of their take home pay) JUST for property tax and insurance, ignoring other costs like their mortgage, maintenance and upkeep, transportation, food, clothing, childcare, etc.

3400 square feet home for a single person? she can't afford the property because it's like something a factory owner would live in. Americans are insane when it comes to housing.

With no mortgage, insurance is optional. Have options.

don’t move to the beach the insurance is crippling

If it's paid for just drop the insurance and keep your home

Maybe Insurance companies can stop advertising. Redirect a little money to claims. Layoff people, cut top earning salaries.

i am working class but once i pay my mortgage off next year. i am just going to go bare. skipping the homeowners insurance. take my chances.

Cost of Homeowners insurance doubled for me last year. This year, they require a 2% deductible instead of a one percent deductible.

I like the fact in New Orleans that when your a senior citizen, they freeze your property taxes for they don’t just keep going up❤

@english7451

Ай бұрын

Same in Chicago tax freeze for seniors

Most people are going to lose their homes

@cindifischer6919

Ай бұрын

I wouldn't say most but I would sure say a lot. I know many where one or the other meaning husband and wife that are taking a second job. They have to just to make ends meet and it's still hard.

@paxundpeace9970

Ай бұрын

Some people. Homeownership is at record highs.

If she really wanted to keep that house, she could easily rent out a room or two. It's 3400sf for one person. Must be lots of vacant bedrooms.

@radolfkalis4041

Ай бұрын

Yeah. I was thinking, that is a HUGE place for one person. A few renters would make her life financially easier, but take it from me, roommates can really SUCK.

@SpotTheBorgCat

Ай бұрын

But it's really hard to correctly judge people. And once they're in, it's harder than hell to get them out, if they don't 'fit'.

@radolfkalis4041

Ай бұрын

@@SpotTheBorgCat man you got that right. I have a friend of 20 years lost his apartment due to doubling of the rent, let him rent a spare room on my place. Slovenly pig. Never cleans anything. I gave him notice to leave. Even people you have known for decades, you really never know until you live with them. Ugh.

@bigvalley4987

Ай бұрын

Great ideal. She need to consider all prospects.

@terrifiorelli9819

Ай бұрын

I would sell at a reduced cost before moving anyone into my house. I have seen the nightmare of squatters and the homeowner has less rights. This government and legal system is corrupt and you will lose in court cost, so sell.

I'm so, so happy I never bought a home after an ugly divorce in 1997, choosing instead a modest, but nice, one bedroom apartment. After all I went through, I knew I wasn't psychologically able to deal with the stress of homeownership and everything that goes along with it. I've never regretted my decision.

This should be criminal! Owning and paying off your home are your hedge against inflation and can make for a comfortable old age. She shouldn’t have to sell because of greedy insurance companies.

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

@WhitneyRoss-dj4rf

Ай бұрын

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

@ChloeCarter-kd7gz

Ай бұрын

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.

@AshleyKeith-vw7ws

Ай бұрын

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

@ChloeCarter-kd7gz

Ай бұрын

My CFA, Desiree Ruth Hoffman, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@WhitneyRoss-dj4rf

Ай бұрын

Thank you for this tip. I must say, Desiree appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

Stop buying homeownrs ins if you own your home. Have visitors sign a liability waiver. Btw-- Nationwide is canceling 100, 000 pet ins policies because "inflation". Looks like they will still make asinine profits by doubling other ins products.

She should not stay in that home. It is good for her to sell that home. Nothing is wrong with that

And New Orleans is a dump, shame on the cities and greedy insurance companies.

So this is how they do our seniors? This is sad.

Move out of new Orleans,it flood once before & it will do it again

@DeoVindice85

Ай бұрын

Let’s pray for more rain.

Might look at making 2 apartments in the house and rent one out.

Louisiana should have to pay higher insurance premiums than almost anywhere else in the country. You live in an area prone to large, destructive hurricanes. Most of New Orleans should have never been rebuilt since much of it sits below sea-level. You want to live in a high risk area, so these are the consequences

23% is certainly not the highest in the country as an insurance agent in California. My clients would give up a kidney for only 23% try 280% is more realistic in the foothills of California.

The house is gorgeous.

Most of New Orleans is below sea level. I believe only the French Quarter is above sea level. It is super risky. There will likely be another incident like what happened from Hurricane Katrina.

Her home is just lovely. If she owns if outright, does she still need insurance coverage? Maybe if a bad storm comes thru, she'll pay ouf of pocket, but heck insurance companies are denying claims left and right anyway. Might be a win win for her. Sorry she having to do this.

That’s a lot of house for a single person . She also doesn’t have to have insurance if she owns the house outright.

@cmay4242

Ай бұрын

True. Id stop paying insurance and sell the house if something goes wrong.

I'm facing the same problem. My home isn't big or beautiful but it keeps going up. And, I'm not sure why the state is charging me a fee when I have private insurance.

If she owns the property outright then homeowners insurance is optional. She can self insure, instead of paying a premium, put the money in an investment fund. When disaster strikes, use the money you’ve saved.

My comprehensive car insurance in Australia just rose by 50% with absolutely no warning.

@markbajek2541

Ай бұрын

Kangaroo collisions?.

My Farners insurance doubled. I’ve never filed a claim. It doubled!!!!

@divingduck9

Ай бұрын

farmers has a rep for being the priciest, & having the highest paid salesforce too

Same here, I been thinking of doing the same.

All done by design

some have advised that if you own your home outright, don't carry homeowners insurance. Instead take what you would have paid in insurance, and put in a high yield savings account. It's a gamble, but at least you get to keep your home

I saw somewhere that 20% of home owners in Florida have dropped their home owners insurance. You’re gonna see a lot more homeowners doing what they can to buy their home outright so that they can dump their home owners insurance and simply be left with rapidly rising property taxes. I’m seriously considering taking a good chunk of my retirement money out of my Roth and doing just that.

Pay off your mortgage and homeowners insurance is no longer required. It’s the lender that requires insurance to protect their investment.

Insurance companies are screwing everyone. Even in hurricane-proof, tornado-proof McAllen, Texas, my insurance premium went up 28%. It's greed.

Our area had wild fires and the insurance companies canceled insurance on a bunch of people.. what the hell good did it do to pay in all those years and let insurance companies make trillions of dollars in profit only to let them bail out when people need them…It’s criminal.

How about our Government helps out with this problem to many other people . This should be a priority they’ve paid taxes for decades 😢

Drop the homeowner insurance..save it. Rent out some rooms!

They wanted $2500a month. She should cancel her insurance and put $1000 or what ever she can afford into an emergency account to be used for home repairs. Kind of like self insurance.

We were looking into New Orleans and were finding this out as well! Now we may never come home!

@you-in-yourfeelings7166

Ай бұрын

North slidell is good, X flood zone.

@barkmaker

Ай бұрын

What rat-infested, third world dumpster fire are you living in that you'd want to return to New Orleans? Chicago?

@missdesireindependance5194

Ай бұрын

Move to Baton Rouge or Lafayette. You can always drive to New Orleans.

if the house is paid off then just don't renew the insurance and hope nothing happens to the house ........

My mom canceled her insurance and she’s owned the house for 32 years. She now has enough money saved to replace it if something happens. Her insurance was VERY expensive! The insurance just kept going up and it didn’t matter if you shopped around. All of them gave her high quotes. I’ve noticed at least 30 homes in my area alone that are for sale.

YOU WILL OWN NOTHING AND BE HAPPY. THE WEF

Yet you can't watch TV without it because full of insurance commercials!! Insurance is a scam!! Where does all my Auto, Home, Renters money go?

I wonder if she's considered renting out a room(s) or airbnb? Regardless, it would be very hard to leave such a beautiful house filled with memories. I hope she is able to find a new home where she'll be happy.

Habitat For Humanity homes need help to avoid foreclosure? Those are interest free homes... *Stop building on flood plains!* Build homes capable of withstand strong winds. You can mitigate the risk using foresight. That lowers cost to insure dramatically....

When you don’t fight for the rights of others .. you lose yours in the process

Same here on the coast of Texas.

Beautiful home. She should drop the insurance and set money aside for a rainy day. I don't think she should rent out rooms because that is too much drama to take on at her age. Now is not the time to invite strangers into one's home .

I am in California. The first bill I have to drop will be homeowners insurance....you folks have my sympathy....