If you buy a house with cash, do you have to pay house insurance?

Asked by frances.lucas, Bay Saint Louis, MS Fri Dec 7, 2012

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Gary Geer’s answer
Gary Geer, Agent, Antioch, IL
Fri Dec 7, 2012
If you buy with cash you are not required to provide insurance documents at closing. Insurance is always something you would want to protect your investment in your new home. I would never buy a home without covering it with insurance. Talk to some insurance specialists in your area for specifiecs and guidance about insurance.
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Tim Moore, Agent, Kitty Hawk, NC
Fri Dec 7, 2012
Nope, but you take a huge risk should it burn down, blow away or become damaged.
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