5 Excuses People give for not Buying Home Insurance

Canadian Home insurance

You home is one of the most important assets that you will ever have and also one the best financial decisions that you will ever make. But many people fail to recognize that as important it is to invest in your home, so is the investment that you make in protecting it from all odds. No matter how much money you invest in building up your home, it is still and will always be vulnerable due to factors such as natural calamities, vandalism, burglary etc.  These may end up affecting your financial stability in the long term. Thanks to the home insurance, this ensures protection to your home from all kinds of financial risks.

Yet many people are unable to understand its long term benefits and give excuses as to why they don’t want a home insurance. Here are a few excuses that people usually make for not buying home insurance!

They find it difficult to buy a home insurance

This is one of the most common excuses for not buying a home insurance. People usually think that it is quite a complicated process and a lot of documentation work is required.  But they don’t realize that now one can buy home insurance in just a few minutes! Thanks to the internet. Also while buying it online, one gets to compare and then choose from a variety of plans available.

They have enough money to cover up for the damages in case of accidents

Even if people have enough of money one can never be sure of what the tomorrow may bring. Having a home insurance will not only provide a security to your home but also will ensure your financial stability no matter how bad the situations may get. Thus even if there is an accident all of the losses will be covered up by your home insurance and you will not have to pay from your pocket.

They live in a rented home

Now for people who live in rented homes find it quite obvious to not buying a home insurance.  But they must understand that if there is any calamity or damage, it may affect any part of their home. Thus you may have to spend your money to recover for the damages made. So it is always a safe idea to buy a home insurance even if you are living in a rented accommodation.

Home insurance may burn a hole in their pocket

Many people find homes insurance to be too costly for them. Thus they avoid buying it. But one must understand the necessity of it and try to plan their budget in a way that they can pay for the monthly installments. Also while buying a home insurance online can help you in cutting down the premium charges as these are more cost effective and affordable.

Lack of time

With the growing schedule of hectic work life, people often try to cover up for their not being able to buy a home insurance due to unavailability of time. This excuse is so irrelevant because with the online platforms that readily help you in buying a home insurance you don’t have to go anywhere. Also even if you have no knowledge you don’t have to invest much time in roaming here and there in search the best plans for you. The companies have made everything so easy as they provide the customer services where you can have all the details though call in just a few minutes. People just need to take out a few minutes form 24 hours of their day to buy a home insurance.


Thus home insurance is indeed a smart financial decision to make when it comes to providing security to both your home and your financial condition.  It safeguards you from any unforeseen expenditures and secures your financial stability.

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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