Can I own a home without an insurance policy?

Home in handsWhen it comes to homeowners insurance you were probably required by your mortgage lender or finance company to have a policy. They have a financial interest in your home, if it were to burn down they would be at a loss because they lent you the funds to buy it.

Ultimately if you own your home outright in California you are not required to carry a policy. This is considered “self-insured” because if a loss were to occur the funds to repair damage would come out of your own pocket.

This is never recommended unless you have the finances available to pay-out during a period of major devastation.

Have a question? Feel free to get in touch. You can call, email, or just use the form to the right and we’ll have someone take care of you.

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