While homeowners insurance may be required by your lender, it is unlike auto insurance in the way that it is not required by state law.
A mortgage holder will typically require any homeowner that borrows from them to hold a homeowners insurance policy in order to protect their investment in the home. If the home is located in a moderate to high risk flood zone, the bank may also require the homeowner to carry a flood insurance policy as well since flood coverage is not provided under a standard homeowners insurance policy.
If your lender doesn't require you to carry a homeowners insurance policy or if you do not have a mortgage on your home, it is still important to carry homeowners insurance to protect your investment in your home.
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