Home Insurance Requirements If your home has a mortgage you will be required to have home insurance. This is so that the mortgage company can recoup any losses that might occur if your home is damaged in a storm, fire or other event. Often, mortgage companies will have minimum requirements, so it important to have this information before you begin to shop around. Benefits of Homeowners Insurance While it important that you have at least the minimum insurance that your mortgage requires, it is important that you have a realistic understanding of how much insurance you need or your home. When looking for home insurance quotes, you will need to take into consideration the value of your possessions, along with the value of your home. Home insurance allows you to rebuild your home if it is damaged in a storm or due to fire or other events. Often, the costs of rebuilding will be much higher than they were when you purchased your home or it was originally built. Homeowners insurance allows you to rebuild your home to current code requirements. For many homeowners, not having insurance would prevent them from rebuilding their home at all. Finding the best home insurance . There are many ways to find the best home insurance. Most top insurance companies, like MetLife, Prudential and others, have web sites online where you can get an insurance quote directly from the company. If you are more comfortable talking directly to an insurance broker, you can find representatives online or in your local yellow pages. You may be surprised to discover that most insurance brokers represent several different insurance carriers and can give you several options for home insurance when providing you with insurance quotes.