5 Best Steps To Take If You Can't Afford Homeowners Insurance [Yahoo! Finance]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Yahoo! Finance
But once a home is paid off, there's no such requirement — and many homeowners are opting out of home insurance amid skyrocketing rates. About 12% of homeowners surveyed last year by the Insurance Information Institute said they had not purchased homeowners' insurance. Many of those simply don't have the budget to afford it. Learn More: You'll Need at Least $50K Saved To Buy a Home in These 13 Affordable Housing Markets Find Out: 9 Things You Must Do To Grow Your Wealth in 2024 Insurance costs are so high in some areas of the country that they've become a barrier to buying a home at all. Just the insurance premium can be about 10% of monthly housing costs, according to data from Intercontinental Exchange Inc . In high-risk areas, that figure can rise to 25%. If you can't afford home insurance right now, here are the five best steps you can take. Also, make sure you're aware of some common mistakes first-time homebuyers make when choosing insurance Trending Now: Boomers Hav
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