But for most, it's by accident — because they don't understand the true value of their home and all the contents.
She's now a Labor MP in federal politics, but at the time she'd just lost an election and was working as a communications specialist."And the first thing I know went through our minds was, 'Oh, I hope I paid the insurance'.""They sort of shook their head and said, 'We'll pay you out. But you're underinsured'," she recalled.
But they quickly realised it would cost at least $600,000 to rebuild something to a similar standard meeting the latest fire standards."It was an absolute shock to find out that we didn't have sufficient insurance to rebuild the house we'd lost," she said.Susan and her family took 12 months to decide what they would do and eventually decided to pay extra to build a bigger, better home on the block.
No
Nothing like taking advantage! Insurance companies will now be in full force amidst the recent disasters, oh and don’t forget premiums will go up to add a little extra punch!
ABC News is erasing the front-runner, Bernie Sanders.