Do I need homeowners insurance if I don’t have a mortgage?

One of the biggest mistakes that homeowners make after paying off their home mortgage is dropping their homeowners insurance coverage. Just because your mortage holder is no longer requiring that you hold homeowners insurance doesn’t mean that it is not a necessary investment.

After you pay off your mortgage your home is still just as susceptible to damage and loss as it was when you owed money on your mortgage.  For this reason, YES, you most definitely still need homeowners insurance.

In the event of a fire, burglary or other covered claim, your homeowners insurance is your security against major financial loss.

For a full description of what your homeowners insuance covers, visit:

>> ”What Does Standard Home Insurance Cover?”