Which homeowners in Massachusetts need home insurance?
Home insurance is generally recommended for all homeowners in Massachusetts. Few could afford rebuilding costs if their house were destroyed, and the other protections are extremely important too.
When a house is financed through a primary mortgage, secondary mortgage or HELOC, there’s often a stipulation that minimum insurance coverages remain in place for the duration of the loan. Lenders typically mandate this so that they’re protected against loss if the house is damaged or destroyed.
Regardless of any lender requirements, however, home insurance is strongly recommended for almost all homeowners in the state.