Is it a law in michigan to have house insurance?

Question

Is it a law in michigan to have house insurance?

Answer 1

No, but it is common sense.  If you have a mortgage, the terms of your loan undoubtedly require you to carry insurance.

Answer 2

If you own your house 100% I don't believe you have to.  But if you have a mortgage I believe it is required.

Answer 3

Michigan law requires you to have homeowner's insurance if you have one or more mortgages on your house.  If you own your house free and clear you're not required to, however, it's a good idea.  If (Heaven forbid) you had a house fire and lost everything, you'd be SOL if you didn't have homeowner's insurance.

Answer 4

No, there's no law that requires you to carry house insurance.

HOWEVER, many contracts you might sign, will require you to carry house insurance.  An example would be, a MORTGAGE contract.

If you don't want to carry the house insurance, don't agree to the contract.