Is Home Insurance Required?
Your home is more than just where you eat and sleep. Creating memories, securing your valuables, enjoying holidays and raising a family can all be made possible within your home’s friendly and safe confines. However, given your home’s sentimental and financial value, you should also be mindful of potential threats. The dedicated team at Total Insurance is standing by with guidance regarding why and when you may need home insurance. 
Am I Required to Have Home Insurance?
No states have sweeping laws that require you to have home insurance. However, you may be subject to other requirements, such as the following:
- Mortgage-related mandates—Mortgage lenders may often require homebuyers to have coverage before closing and maintain it throughout their loan duration.
- Homeowners association requirements—If you live in a homeowners association, such as a gated neighborhood, the overseeing body may require you to carry home insurance.
Why Is Coverage Important?
Even if you’re not subject to formal obligations regarding home insurance, you should still consider it an advisable investment. Accidents can happen regardless of how well you maintain your home or how diligent you are in living a safe and responsible lifestyle. Consider the following situations in which home insurance could be vital:
- If vandals or burglars damage your property or make off with your belongings, your policy could help pay for repair or replacement costs.
- If you’re at fault for someone else’s injuries or property damage, the personal liability coverage portion of your insurance could insulate you from financial repercussions.
- If your home becomes temporarily uninhabitable, such as due to a fire, your coverage could compensate you for additional living expenses, such as hotel accommodations.
Get the Right Coverage
Contact Total Insurance today to get a free quote for home insurance.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.