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Is home insurance always necessary?

Is there a special clause or loophole so I don't have to add home insurance? by jesse143 from Cassville, Pennsylvania. Jun 11th 2020 Reply

Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 149 contributions

Sorry Jesse, but yes if you have a mortgage or home equity line secured by your property, one of the conditions will always be to maintain hazard insurance on the property. That insurance protects the lender's interests as well as your own.if you don't have a loan against the property, then it is your call and your risk of loss.

Jun 11th 2020
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,729 contributions

Yes... If you have a loan, the loan will require it to protect the lenders interests.

Jun 15th 2020
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