Guides › Basics
Who Needs Home Insurance?
Lenders require homeowners insurance when you have a mortgage. Even without a loan, a policy keeps you from paying for a total loss out of pocket.
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Quick tips
- Mortgage lenders require it
- Cash buyers should still insure
- Review it after major renovations
Ask your agent: How does this apply to my home and state, and what are the limits and exclusions for who needs home insurance?
Related guides
- Home Insurance vs Home Warranty
- Home Insurance Terms Explained
- How to Read Your Home Insurance Declarations Page
- What Is an HO-3 Homeowners Policy?
- Buying Home Insurance From an Agent vs Online
- How Much Home Insurance Do I Need?
- Medical Payments to Others
- How Claims History Affects Premiums
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