Wondering if you really need homeowners insurance? Of course, we think ALL homeowners should have homeowners insurance, but there really there are two scenarios to consider: whether you still owe money on your mortgage or not.
Homeowners who still owe a balance on their mortgage don't even need to question their need for homeowners insurance - its a must. Lenders usually require proof of coverage because they want to make sure that their investment is protected against typical hazards.
While homeowners who are lucky enough to have their mortgage paid off aren't required to have a homeowners policy, most still usually keep their coverage because they want to protect their own biggest asset.
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