The worst thing you can do is losing your home forever without getting any sort of compensation. This video will explain what financial experts have to say about homeowner’s insurance.

In this episode of The Ramsey Show, Eliza calls to report from Florida. She is the one that now has control of the finances of her family after her husband’s death. The house she lives in is now paid off and has been wondering if it’s worthwhile to keep homeowners insurance. Eliza disapproves of one of her friends who thinks that it’s best to drop the insurance. Eliza claims that her house is located just blocks away of the fire station. Dave insists that insurance can be worth the cost of expensive items like boats, houses or automobiles. The advice is to contact the bank to end the equity lines currently in effect. The author also suggests buying the liability insurance. One of the best investments you could invest in is insurance, specifically that of liability insurance. Millions of dollars could be protected with just a few hundred dollars.

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