Is homeowner insurance required by law?

My real estate agent asks me to purchase the homeowner insurance policy when during the closing process. Is homeowner insurance always required?

Homeowner insurance is not legally required as auto insurance. But it is often required by your bank when you have a mortgage. Because it can cover the financial risk before you pay off the mortgage. If you don't have a mortgage, your real estate agent may not ask you to purchase the homeowner insurance. 

Jason W
Jason W
Answered on Nov. 29, 2021

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