Is Homeowners Insurance Optional?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIAs of today and to the best of my knowledge there are not currently any states within the United States that require homeowners to have homeowners insurance. Your mortgage lender on the other hand would more than likely require you to have homeowners insurance at least to the value of the loan if not greater.Answered on September 13, 2013flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! There is no law that requires you to have the insurance, but I do not know of a single lender that will sign off on the loan if there is not a policy in place to protect their investment. You also really want to have a policy, to protect your investment, and the value of your accumulated property. It really is a wise thing to have. Thanks for asking!Answered on April 25, 2014flag this answer
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