Question

Should the government subsidize homeowner or renters insurance the way they do flood insurance?

Should the government subsidize homeowner or renters insurance the way they do flood insurance?

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Answer #1

The government should subsidize renters insurance as there are more benefits in renters insurance rather than home owner insurance because in home owner insurance it covers only the losses occurs individual house and the assets inside the house, where as in renters insurance they will cover all the personal belongings in the property and also the person who visits the house. Home owners insurance is some what similar to property insurance where as renters insurance it has some extra benefit.

Thus if government subsidizes renters insurance it would be helpful to the public to take that insurance at low cost and there are many people who don't have their own home, so for them also this insurance will be helpful.

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