Do I need house and fire insurance?

All homes that have a mortgage need house and fire insurance.

Depending on the location of the home, they may require earthquake and flood insurance as well.

It is important to quote this out prior to removing subjects, as if the cost of insurance is higher than expected you

will be stuck if you do it after the fact.

House Insurance must cover the cost of the replacement value of the home, which means that the insurance policy

must cover whatever it costs to replace the home should the home be damaged, and the insurance company must

be listed as first loss payable.

When getting house insurance, if you feel like you are getting a quote that is much higher than expected, check

with your provider to see if their are any repairs, etc that may change the quote.