"A note to terracore..."
Those are excellent points, and the USAA agent did discuss the "you get what you pay for" aspect of their policy. They are also AAA+ (or whatever) rated meaning that there is little possibility that a major catastrophe would leave them unable to pay out claims. Dongbu is based out of South Korea and who knows what that means. And the Yelp reviews of Dongbu are horrible.
But at the end of the day, I've had some form of renters or owner's property insurance my entire adult life and have never made a claim (and the same can be said for my parents). Our biggest liability risk is our farm animals getting out and causing mayhem, or some idiot trespassing and getting kicked by an aggressive donkey, or somebody claiming our food gave them RLW. We have a separate farm policy for that, and part of the affordability matrix is skimping on insurance that is unlikely to be used and spending the savings on something potentially more likely to be used.
Those are excellent points, and the USAA agent did discuss the "you get what you pay for" aspect of their policy. They are also AAA+ (or whatever) rated meaning that there is little possibility that a major catastrophe would leave them unable to pay out claims. Dongbu is based out of South Korea and who knows what that means. And the Yelp reviews of Dongbu are horrible.
But at the end of the day, I've had some form of renters or owner's property insurance my entire adult life and have never made a claim (and the same can be said for my parents). Our biggest liability risk is our farm animals getting out and causing mayhem, or some idiot trespassing and getting kicked by an aggressive donkey, or somebody claiming our food gave them RLW. We have a separate farm policy for that, and part of the affordability matrix is skimping on insurance that is unlikely to be used and spending the savings on something potentially more likely to be used.