I own my home in Viera, Florida and I recently paid off my mortgage; am I required to have homeowner’s insurance?

You are not required if there is no mortgage or third party who has an interest in the home and property. But because your home is likely one of your largest assets, it’s a good idea and highly recommended to always maintain coverage even if you do not owe any money on it. You would not receive any reimbursement for your home and it would be your responsibility completely if you suffer a loss.

If now or at a later date you use your home as collateral or security for a mortgage, home equity or other type of loan, your lender will require coverage.

If you ever are considering Not being protected make sure you discuss all of your options with your insurance agent.

Our Melbourne Home Insurance Agency is centrally located in Brevard County, enabling us to locally serve Viera, Cocoa Beach and Palm Bay.

Questions And Answers about Florida Insurance