Is Homeowners Insurance A Waste Of Money? 
People buy insurance because they can not bear the risk alone . Only a relatively small percentage of policyholders will incur a large claim in a given year , however , none of them could afford to bear that claim alone . Unfortunately I can not tell when you will have a claim and advise you to buy a policy because you will be having a claim soon . Actually most people buy a homeowners policy because their lender requires it , however , it is a very good deal , particularly if you do have that major claim . 