Homeowner's Insurance

Is homeowners insurance required?

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Wiki User
2007-06-25 15:00:29

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...

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