You may know that when you buy a home, you should purchase homeowner’s insurance. You may have never wondered if the coverage is required. Usually, insurance will be taken out of escrow and a part of our monthly mortgage payment. You may pay a yearly premium separate from your mortgage payment. Home insurance is a nuisance so if you could find a way around it should you forego it?   

You can legally buy a home without a home insurance policy, but if the house is financed with a lender, the mortgage company usually requires that you have insurance on the property. A lender can also request that your home carry additional policies such as earthquake or flood insurance. There are minimums you must meet based on the value of your home and the lender you do business with. These standards exist so that you as the homeowner will have enough coverage to replace the property should it be a total loss in some type of natural disaster or fire.  

The amount of coverage you need depends on how big the mortgage is that you have taken out. There are certain supplemental coverages that may not be required yet are sensible to carry. These extra coverages include:

Personal liability coverage

Personal property coverage

The good news is that as a homeowner you have a choice. You can shop around and see which insurance companies will give you the best coverage for the lowest price. 

The bottom line is that you shouldn’t risk going without home insurance. Even if your loan company allows you to cancel your home insurance after a certain point, the risk is really not worth saving money. Without coverage or permission to cancel coverage, there is a chance your mortgage company could put your loan into default. 

High deductible, basic insurance policies are better than nothing. If you’re going to pay a premium for home insurance, you should look into getting the coverage that makes the most sense for you and your family. You don’t need over the top coverage amounts, but you should aim for comprehensive protection for your property. The key is to balance the cost of your insurance with the value of the property. If your house burned down, you’d want to know that you could replace your property without worry. If you didn’t have insurance, you could really face some issues. You may not want to pay for home insurance, but you genuinely need it. Make sure you understand your coverages.                

This Single-Family in Westminster, MA recently sold for $510,000. This Colonial style home was sold by – Liberty Real Estate.

27 Harrington Road,

Westminster, MA 01473



Sale Price




27 Harrington Road is a well-maintained 4 bedroom 3,000+ square foot home with many top-notch additional features! Set on 2 acres on a country road, this home has two front entrances, for layout/lifestyle flexibility. The Pub Room, accessed from its own staircase and at the end of the second floor hallway, can create a completely separate area, or as a continuation of the main house. Three full bathrooms, including one on the first floor. Renewal By Andersen replacement windows (17) in November 2019. The Screen Room leads to a fenced yard with a Snyder Pools Mountain Lake inground swimming pool and large patio area. The freshly painted Master Suite has a walk-in closet and spa-like bathroom with jetted tub. Wood interior doors. You'll love the Pub Room's mahogany floors, custom lighted cherry bookshelves, window seat, and a wet bar complete with wine fridge. This home also has a large flat front yard, and a cleared and wooded backyard outside of the fenced pool area.

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