Is homeowners insurance required?
genius guy,i think its a good idea to get homeowners insurance.
If you own the house outright, then no it is not required but if
you have a mortgage, then the institution that made the loan most
likely does require it. They already have laid out the monies for
the real estate they do not pay to insure it also. You can add your
taxes and insurance into an escrow account the will include those
expenses with your mortgage payment, that you pay monthly so as at
the end of the year you do not have to come up with two lump sums
of big money. The bank or mortgage company see's to it that not
only do your monies go to mort. but the other two as well...It
makes things easier...