When do I need homeowners insurance?

@aidan.jacobs 

It is generally recommended to have homeowners insurance in the following situations:

1. When you own a home: If you own a house, it is important to have homeowners insurance to protect yourself financially in case of any damage or loss to your property.
2. When you have a mortgage: Most lenders require homeowners insurance as a condition for providing a mortgage. It ensures that their investment is protected in case of any damage or loss.
3. When you have valuable assets: If you have valuable possessions such as expensive furniture, jewelry, electronics, or artwork, homeowners insurance can help cover the replacement or repair costs in case of theft, damage, or loss.
4. When you live in an area prone to natural disasters: If you reside in an area prone to natural disasters such as hurricanes, earthquakes, floods, or wildfires, having homeowners insurance can provide financial protection against the damages caused.
5. When you have liability concerns: Homeowners insurance also provides liability coverage in case someone gets injured on your property and decides to sue you for medical expenses or other damages.

It is recommended to consult with an insurance agent or insurance company to understand specific coverage options and any legal requirements in your area.