Moving from state to state
A friend of mine is from a military family. Her dad is in the military so they have moved from San Antonio to Seattle to Austin to Denver and now she is back in Austin. One thing that I learned from her about all of her moving is that home insurance can change from state to state and provider to provider. In my finance class we have learned a lot about home insurance and insurance in general but most of it was focused on Indiana or the research project we had to do was based off of our home state (which is Illinois for me). So I learned more about San Antonio home insurance and Austin home insurance through Kayla and her many adventures. First of all I learned that there are some places that cannot be insured which surprised me and if you can find a provider that will insure them it costs A LOT of money to do it. I guess at some point she lived next to the ocean and there was a history of a lot of water damage and the home insurance company decided that her house (or the string of homes on that strip) were too much of a risk to insure. That really does scare me. I don't really plan on living anywhere along the beach, but it scares me to have to learn about how much home insurance will cost me one day and what kinds I will need to protect myself, my family and my home from things like fire and water damage. A friend of mines family used Fort Worth remodeling when her house went to in flames after her lint in her dryer caught on fire. It was scary to see that happen. They left for school that day and came home to no house and all of their valuables were gone and they had to file a claim and get everything redone. Thankfully their home insurance took care of it, but there was a lot of stuff that was irreplaceable, like baby pictures and letters from her dad that died.
Another thing that I learned about was that a stranger can come into your home and break into it and have the intention of stealing something or robbing you and if they fall and get hurt, you are responsible for them. I really thought that was strange, but thankfully that is why we have home owners insurance.