Is It Illegal The Law To Not Have Homeowners Insurance?

  1. 644 POINTS
    Alex Pfeifer
    Owner, Pfeifer Insurance Brokers, Burlingame, CA
    No. It's not illegal to be without homeowners insurance. However, if you have a mortgage on your house, your lender will require that you carry adequate insurance on your house. Furthermore,  the lender will require that they be listed on the insurance policy. If you do not comply, they will purchase home owners insurance for you and charge you for it. It's more expensive that way.
    Answered on June 21, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Unlike automobile insurance, California does not require a homeowner to have an insurance policy. The mortgage company will almost always require an insurance policy on which they are named as mortgagee. That protects their interests. However, few homeowners can be sued or lose their home in a fire and not feel financial pain. That is the purpose of the homeowner’s policy, to share that risk with others so that if it should happen to you, you can be made “whole.”
    Answered on September 11, 2014
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  3. 2775 POINTS
    Joe 'Gravy' Graves
    Owner, I Hate Buying Insurance, Nashville TN
    (read this is an astonished, chuckling undertone) Stupid is as stupid does. WHY wold you even consider going without? I know that's a harsh reply. Yet why, why, why, wouldn't you want to have at least a minimum amount of coverage? Obviously I'm reading into the question. The assumption is, "I'm thinking of cancelling my home insurance to save a few dollars. Is that Illegal?" So go ahead and do it. Yet when your house burns down, I hope you'll have the character to NOT accept charity or any form of government assistance. It's your responsibility to manage your household. So do what you want to do... just be ready to live with the choice. :-) - gravy
    Answered on June 26, 2016
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