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Homeowners insurance is required if:

A. Your home costs more than $500,000
B. Your home is not a single-dwelling
C. You have a mortgage in your home
D. You rent or lease your home

User Jon Jones
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1 Answer

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C. You have a mortgage on your home.

Homeowners insurance is typically required by mortgage lenders as a condition of obtaining a mortgage loan. This requirement is in place to protect the lender's investment in the property in case of damage or loss. It provides financial coverage for the structure of the home, personal belongings, and liability protection. Therefore, if you have a mortgage on your home, it is likely that homeowners insurance will be required.
User Asdrubalivan
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