Is it mandatory to have homeowners insurance if I own property?

It is legal to own property without insuring it, however it is always a good idea to make sure you protect your investment. Some situations also make it difficult to own property without insurance. For example, if you are financing your home, most lenders require you have a policy to cover damage in the event of a natural disaster or fire.

What is a deductible?

A deductible is the stated amount the insurance a policyholder agrees to pay out of pocket before the insurer covers any losses covered within your plan.

Is theft covered by homeowners insurance?