Is Home Insurance Mandatory?

Is homeowners’ insurance a legal requirement in Texas or is it something that you can live without? No, homeowners’ insurance is not a legal requirement and yes, it’s something you can live without but its highly recommended that you get homeowners’ coverage if you own a house. Homeowners’ insurance is not mandatory, but it’s essential. It protects you, the homeowner, from financial losses in the event of a disaster that leads to damage in your home.

Homeowners’ insurance is one of the most important coverages one can have. But unlike driving a car, one can legally own a home in Texas without homeowners’ insurance. However, it’s always a good idea to protect both the structure and contents in your home with insurance because you never know what’s going to happen. Noveri Insurance Agency in Houston, TX, provides reliable homeowners’ insurance coverage. This type of protection gives you the peace of mind you need to lead a happier life.

When Would I Be Required to Have Homeowners Insurance?

If you own your home outright, there’s no obligation, legal or otherwise, to have homeowners’ insurance. However, you may be required to purchase insurance for your home if you don’t own it outright. For instance, if you financed your home with a mortgage, your lender will require you to purchase coverage to protect your home from unprecedented events such as a fire or natural disasters.

Additionally, you may also be required to carry earthquake or flood insurance if you live in an area prone to any of these events. You will no longer be required to have homeowners’ coverage after you pay off your mortgage. It’s tempting to go uninsured, but it’s not worth it. It’s highly likely that you are going to need your home insurance coverage to protect you in the future. Get the coverage you need from Noveri Insurance Agency in Houston, TX. Give us a call for more information about homeowners’ insurance policies in the area.