Do I need home insurance if I don’t have a mortgage

Mooresville is one of the most beautiful places in North Carolina. It is a popular place to live, being so close to gorgeous Lake Norman. It is a great place to retire, and if you decide you want to live there, you may be wondering if you need home insurance if you don’t have a mortgage. At the Griffin Insurance Agency, we are local to Mooresville, NC, and we would be happy to discuss your home insurance needs with you. 

Do I need home insurance if I don’t have a mortgage?

No, legally, you are not required to have home insurance. But that does not mean that you should not opt to have home insurance. Unless you are independently wealthy and could easily afford to make repairs or pay any lawsuit that might be lodged against you, then having a home insurance policy provides valuable protection. 

North Carolina is vulnerable to a variety of weather events that can cause major damage to your home. If a covered event occurs, your home insurance will provide the money that you need to not only repair or rebuild your home but to replace all of your personal belonging that may have been lost. If your home is so damaged that you can not reside there, it will help you with the money you need to live somewhere else until your home is ready to be occupied again. 

Liability coverage is one of the most important protections that home insurance provides. Suing has become a more common occurence, and if you happen to be the object of a lawsuit by someone who was injured while visiting your home, you will be relieved that you have it. 

The Griffin Insurance Agency is available to answer your questions about the value to you of having home insurance. Give our office a call or stop by in Mooresville, NC to discuss this critical coverage.