When the worst happens to your home, a common consolation is, “That is what insurance is for.” But with the price of homeowners’ insurance going through the roof, more people are opting to go without.

About 12% of homeowners do not carry homeowners’ insurance, according to a recent Insurance Information Institute (Triple-I) analysis. Nearly half of those households make less than $40,000 per year.

Mortgage lenders require owners to have insurance, so those who don’t have insurance likely own their property outright.

“For some people, they may want to walk away and move to another location, but just know, you’re gonna lose everything,” Triple-I spokesperson Scott Holeman said.