Am I required to have homeowner’s insurance?

Maybe. The law of the state in which you live determines whether you are required to maintain homeowner’s insurance for your home. However, if you have a mortgage loan secured by your home, the financial institution that issued the mortgage loan is likely to require that you maintain homeowner’s insurance.

Other Insurance FAQs

Q: What is homeowner’s insurance?
A: Homeowner’s insurance policies cover damages to or destruction of your home and possessions that result from fire, theft, or other types of disasters. The … More
Q: Will homeowner’s insurance cover all of my personal property?
A: No. There are some types of personal property, such as antiques, expensive jewelry, and coin collections, which your insurance policy might not cover, or might … More
Q: Will homeowner’s insurance cover my vehicles?
A: No. Vehicles are not included in a homeowner’s insurance policy. However, damages to your vehicles may be covered by your auto insurance policy. More
Q: Why does my homeowner’s insurance policy contain Additional Living Expense (“ALE”) coverage?
A: If you are unable to use or live in your home while it is being repaired or rebuilt, ALE coverage will provide you with some extra benefits. For instance, ALE … More
Q: Why does my homeowner’s insurance policy contain a provision about Personal Liability coverage?
A: Most homeowner’s insurance policies contain Personal Liability coverage, which protects you from claims or lawsuits that result from damages occurring on your … More
Q: Why does my homeowner’s insurance policy contain an Inflation Guard Endorsement?
A: An Inflation Guard Endorsement protects you against changes in housing market prices and updates to your home. For instance, if you have added another room to … More
Q: Does my homeowners’ insurance policy cover mold damage?
A: Read your policy carefully in order to determine whether it covers damages resulting from mold and/or fungi. Some insurance companies have begun to limit or even … More
Q: If my home is destroyed and needs to rebuilt, will my homeowners’ insurance cover the building permits needed under local laws?
A: Ordinance or law coverage is a specific type of homeowner’s insurance coverage that covers all necessary costs of rebuilding or repairing your home as required … More
Q: Do I need special windstorm coverage in my homeowner’s insurance policy?
A: Most homeowner’s insurance policies contain coverage for losses related to windstorms, hail, or other types of severe storms. However, if you live in … More
Q: How do I know how much homeowner’s insurance I need?
A: You should talk to a qualified insurance agent in order to determine the amount of homeowner’s insurance you will need, which may depend on a variety of … More