If I were Filthy Rich
By DrTriage+21 Insurance for the Mansion?
So you got your mansion, and by 'mansion' I mean a large elegant home with servants' quarters; do you insure it? Or do you think 'insurance is betting against disaster' and self-insure with the millions in the bank?
Recent responses
+39 @TheLizardKing89 If you don’t insure your single biggest purchase, then you’re probably not very smart.
+23 @ElConsigliere69 My lawyer will help me make the best decision
+14 @Inevitable_Cat_7878 Depends on how much you have left over and where you live. If you live in a place where there's tornadoes, hurricanes, and floods, then it's probably in your best interest to insure. Insurance is for when something bad happens. Suzie Orman owns a Florida condo in Miami. The problem is insurance in that state is ridiculously expensive. So, she said in one of her shows, she has enough money in the bank to rebuild in case of disaster. Therefore, she does not insure her condo.
+11 @1GrouchyCat You insure it so if anyone gets injured on your property, you have coverage. Also, I’d need a base policy to add riders to - I’d want to insure my antique cars and collectibles… not just empty buildings…