And then there is this: if my current State Farm homeowners insurer ever pulls out of the state or drops me, I will pay the house off just so I won’t have to have some ridiculously overpriced homeowners insurance of last resort to placate my mortgage lender.
I will look around and buy some relatively cheap fire insurance. I have fixed my attic to Miami Dade code and put on a new roof with cat 3 shingles and extra nails per shingle. I paid surprisingly little to have them put that waterproof membrane across the entirety of the roof and not just the valleys. So if I no longer have insurance for hurricanes, I can put 3 or 4K in CDs every year so that if I do get hit by a hurricane that causes some damage, I will pay for it myself. i’m willing to risk the tornado threat, which is not nonexistent, but pretty damn close.
i’m not sure how bad it is in Texas, but getting affordable homeowners insurance is an extreme problem in Louisiana now that the last legislature repealed the law that said your insurer could not drop you after three years.
mine is up for renewal in July, and as I sued them over hurricane Ida, and recovered far more than State Farm said I owed, I am expecting to be dropped.