Is It Mandatory To Have Homeowners Insurance?

  1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    It is if you have a mortgage.  In order to close on a loan, mortgage companies, among other requirements, will need to see proof that you have Homeowners Insurance issued by a financially solid company.  They will also require that they be named as an interested party with the proper "mortgagee clause" and loan number listed prominently on the declaration page.
    Answered on July 1, 2014
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