Am I legally required to have home insurance?

I'd rather not pay for home insurance if I don't have to. Is it required by law?

Answer provided by
Jackie Whalen
Answered on Mar 01, 2021
Home insurance is not required by any state or federal law. When you get a loan from a bank to buy a home, the lender will require you to have home insurance that covers the mortgage, at the bare minimum. The bank wants to make sure that they will get their money back if the home is destroyed before you finish making payments on it.
If you are fortunate enough to have paid off your mortgage, you are no longer required to have home insurance because you do not owe the bank any money. Even so, it is still a very wise purchase because home insurance ensures that your investment is protected.

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies