pull down to refresh
28 sats \ 3 replies \ @Bell_curve OP 6 Feb \ parent \ on: State Farm asks for more insurance rate increases after LA fires econ
The state doesn’t require home insurance. It’s the lender that requires it. Unless you own your house and you can decide not to buy home insurance.
Home insurance covers the home but not the land.
Thanks for the clarification. Are the lenders required by law to require it or are they just being prudent?
reply
My guess is they are being prudent.
A common reason for deals falling out of escrow is inability to secure home insurance
reply