Is Homeowners Insurance Required By Law? 
Unlike auto insurance Homeowners insurance is not required by any law . However , that does n't mean that you 're not required to carry it . I know that sounds contradictory , but there 's a significant distinction . Even though you 're not required by law to carry it , you may be required by contract , namely a mortgage , to carry at least a minimum of coverage . When you purchase a home with a mortgage , the mortgage company will require you to carry coverage that will repair or rebuild your home to certain standards . The mortgage company is simply protecting the asset you 're using as collateral for the loan . If you own your home outright , you not required to insure it at all . Why someone would n't protect their biggest asset is a mystery to me , but it could happen . Be smart . find an agent you can trust . He/she will be able to help you get the coverage you need at a price you can afford . 