Is It Illegal To Not Have Home Insurance?

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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    It is not against the law to own a home and not insure it.  Lenders require hazard insurance on a home; however, if you don’t have a mortgage on the home, you don’t have to insure the home.  You should ask yourself what your financial situation would be were you to lose the home and its contents in a fire or similar risk.  You should also ask how you would handle a lawsuit if someone was to claim personal injury or property damage.
    Answered on August 18, 2014
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