Quote:
Originally posted by Bill Verburg
Insurance is what killed the Muscle cars
I have a house w/i a 100yds of the Intercoastal, ~1mi from the Atlantic. My insurance has quadrupled in just the last year, I consider myself lucky to have been able to get any. The deserts of Nevada are loking better every year
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Do you need insurance? If it weren't required by someone else, e.g. lender, would you choose to have insurance?
I guess I have a vision that maybe some property on the Atlantic coast will become effectively impossible to insure. Then their value may drop a lot. At that point I'd be interested in buying some of that devalued property.
I'd put up a structure that I wouldn't need to insure, a small cottage/cabin that I'd consider basically disposable. Cheap, brightly painted, ephemeral, and charming. One or two small bedrooms, uninsulated, a sleeping porch, minimalist propane appliances. Extra guests get tents. Basically a return to what beach cottages used to be, before they became 5 bedroom $2MM show-off
mansions.
(This is kind of theoretical, since I live on the West Coast, but this is what I'd dof I lived on the East Coast.)