Mission Daily

Homeowners Insurance for Beginners: When it Works, When it Doesn't, and Why it Can Feel Like a Scam

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Property investor Albert explains how homeowners insurance works, when it doesn’t work at all, and why the entire model can feel like a scam after disaster strikes.


Key Points:

  • You’re on the hook for upfront disaster mitigation and repairs. Insurance only reimburses later, often not in full.
  • With labor shortages, replacement costs far exceed insurance company estimates. They lowball based on pre-disaster rates.
  • Constant climate disasters mean constant claim denials. Albert asks - is insurance even worthwhile when it fails to protect you?
  • For homeowners insurance beginners, the model seems primed to collapse. Albert argues it needs an overhaul to actually cover people.


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