Can You Own A Home Without Homeowners Insurance? 
You can own a home without having homeowners insurance but more than likely you will need to maintain the coverage as a requirement of your mortgage contract . Most mortgage companies require `` Hazard Insurance '' to protect their investment in your home . If you fail to maintain `` Hazard Insurance '' , or commonly known as homeowners insurance , the mortgage company will put `` forced insurance '' on your home . The forced insurance policy will be much more expensive and will have inferior coverage . Some are even considered a `` single interest '' policy . This means that the mortgage company is the only beneficiary under the policy -LRB- you get nothing -RRB- . We do not recommend owning a home without homeowners insurance . For many people their home is their largest asset and you should protect it . 