Home insurance is a racket for the most part. Not entirely. Insurance does have its place, certainly. But it can also be a racket.

Here's an example. When we bought a house in Florida, for cash mind you, I, for some stupid reason, thought it prudent to buy insurance, and so I did. It cost maybe $1,000/year, maybe a little more. Good deal for peace of mind I thought!

Well, come the second year, I got a letter from the company that they were canceling my policy unless I fixed XY and Z on our house, all expensive jobs. Granted, they took my initial money without taking a look, then canceled the policy. Fucking bastards. That's a racket.

Home insurance only maters if it's ongoing. Of course it will pay off for the insurer if they cancel the policy after one year. Fool me once...