When Do I Need Homeowners Insurance?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A lender will require that you provide insurance to cover their interest in your home.  That is when you will be required to obtain insurance.  Failure to provide that insurance allows the lender to place that coverage and charge the premium to you.  However, you should purchase a homeowner’s policy anytime that you cannot sustain the economic consequences of a lawsuit or loss of your home to fire or other specified peril.
    Answered on July 30, 2014
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