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re: Got my answer page 3; IF my house is paid off, I can't have NO insurance if I choose to
Posted on 6/3/23 at 8:37 am to tiger91
Posted on 6/3/23 at 8:37 am to tiger91
Call me stupid, but if you owe nothing on your home and property there is no law that says you must be insured.
Now, if you live in a subdivision with an HOA or in a condo-type home, I can't speak to that.
As a private homeowner living in a country setting with my mortgage fully paid, I can choose to drop my homeowner's insurance anytime I see fit. Of course, I will be assuming the costs of any damages from hurricanes, etc. and I am still vulnerable to lawsuits from anyone who may claim to get hurt on my property.
But no, there are no laws saying you have to have insurance on your home!
Now, if you live in a subdivision with an HOA or in a condo-type home, I can't speak to that.
As a private homeowner living in a country setting with my mortgage fully paid, I can choose to drop my homeowner's insurance anytime I see fit. Of course, I will be assuming the costs of any damages from hurricanes, etc. and I am still vulnerable to lawsuits from anyone who may claim to get hurt on my property.
But no, there are no laws saying you have to have insurance on your home!
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