Do I need homeowners Insurance after I pay off my mortgage?

Answer Only a lien holder can require a borrower to carry insurance.

Top Q&A For: Do I need homeowners Insurance after I pay off ...

Is homeowners insurance part of the mortgage monthly payment?

Yes, the prorated homeowners insurance premium is usually escrowed as part of your monthly mortgage payment. Also included in the payment are the principal payment for the loan, a portion of the ac... Read More »

How much homeowners insurance do you need?

On One Hand: Do Your HomeworkAt a rate of between 0.3 percent and 1 percent of the cost of the home loan, Americans spend an average of about $481 annually on homeowners insurance, also known as h... Read More »

Is it ok to change auto insurance after twenty years with the same company as another good insurance company can give a better discount because they already have your homeowners policy?

Answer This is perfectly okay. Things to check on is make sure your deductable hasn't risen significantly, as well as your coverage terms. You know, fine print things.

Why does a homeowners association need an umbrella and excess liability insurance?

Umbrella & excess provides increased limits of liability at a greatly reduced premium as compared to the general liablity policy. The theory is that the GL policy is the "working layer" for most cl... Read More »