If Your Home Is Paid Off, Do You Still Need Homeowners Insurance? Here’s the Real Deal

If a homeowner’s home is completely paid off, are they still legally required to have homeowners insurance? Short answer: No, you’re not legally required to carry homeowners insurance once your mortgage is paid off. And honestly, this surprises a lot of folks. When the bank is out of the picture, the legal obligation disappears. But—and … Read more