Well, it's interesting. Most states make it illegal to drive a car without car insurance, but do not have laws on the books forcing homeowners to insure their homes. If you have a loan on your home, most mortgage companies will require you to carry homeowners insurance. Since the mortgage company may actually carry the bulk of your investment on their books, they need to make sure it is protected.
However, if you own your home free of a mortgage, then you are not required to carry homeowner's insurance. However, things happen. Your pipes could burst, a small fire could get set in your kitchen, or your home could flood. I would always advise a homeowner to carry homeowners insurance on the bulk of their ivestment. Set the deductible at an amount you can afford to lose to keep your premiums affordable.
If you think your current homeowners insurance is too expensive, or if you have done without homeowners insurance, why not take five minutes to get an online quote or find a qualified local insurance agent?
Click Here To Start a Quick Free Online Quote.
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