Quote Originally Posted by SWMAP View Post
Owning a home in SW Detroit, I have been mulling annual insurance rates versus what a payout might be. I believe that i could get maybe $8,000 if I sell my house. How much am i likely to get from an insurer if a tree falls on my house or there is a fire. I have heard that it is hard to get a payout based on the value of the house. Any first-hand anecdotes?

Remember, homeowners insurance covers much more than a 'what if my house burns down' scenario. It covers all the stuff in your house and give you some protection against someone sueing you into indentureship should they slip and fall or do something stupid to themself on your property.