Nintendo employee Jack Bridenstine lost his home in a freak fire, the cause of which is still unknown. He lost pretty much everything, but at least he and his family escaped with their lives. If you want to help Jack get back on his feet, another Nintendo employee has opened up a GoFundMe to help out. You can check out all the details below.
He didn't have house insurance?
Somehow I doubt that the insurance can cover that much of damage.
Also, where is the source that says that he is a Nintendo employee? Don't get me wrong its still a sad thing even if he isn't a Nintendo employee but after watching the video, it just seems like a clickbait without the name being mentioned anywhere.
Home insurance is supposed to cover exactly that. Cover the cost of rebuilding and home contents (sometimes contents is extra)
Yeah, exactly: the market value of a home is required to be insured to get a mortgage. Banks use the house as collateral when they lend people money, so they don't want it to burn up and they get nothing. And the contents might be the iffy part, but there's also the expenses of the sudden extended hotel stay and all that. This sucks: terrible thing to happen to anyone.
The whole point of insurance is to cover the entire cost of rebuilding (which not only includes a new house but also the debris removal) as well as all the contents. Homeowners insurance also covers the contents of the house up to the policy amount.
The only thing it doesn’t cover is the deductible which is typically $500-$1000. You are responsible to cover that out of pocket.
No bank will let you take out a mortgage without first providing proof of adequate insurance (and if you cancel the policy, the next thing the insurance company does is notify your bank).
Thank you a lot!!!!
I noticed this campaign mentioned by a verified employee of Nintendo on Twitter!