Buying a house?? Make sure you do your research when it comes to insurance.
Homeowners’ insurance IS most definitely required because you are a liability to your lender should your house go up in flames and the property becomes worthless.
The cost for insurance varies widely, and depends largely on where you live and the value of your home. There are also added costs if you live in an area prone to flooding or other natural disasters.
BEST ADVICE - don’t skimp on time finding the cheapest, most valuable insurance for your home. This can save you money in the long run.