Is Home Insurance Required By Law?

  1. 7647 POINTS
    Mark Bartlett CLCS
    Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
    Homeowners insurance is not required by law. A lender will require you to maintain insurance as a condition of the loan but once you pay that house off you are under no obligation to maintain insurance on the home and you have the right to self insure. Personally I believe your home is one of, if not, most peoples largest assets and you should maintain homeowners insurance but if you are OK with absorbing any type of loss you are fee to do so. If you do not wish to any longer insure your property I highly suggest you at the very least carry personal liability protection.
    Answered on June 1, 2013
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