If you have a mortgage, the answer is most likely yes. If you own a home outright, then you don't have to, but it's a very good idea to have homeowner's insurance. If you have enough money to replace the home in the event that something happens to it, well then you don't need insurance because you can afford to cover that loss. If you have a $100,000 home, do you have $500,000 in the bank? If something happens to the home, if it burns to the ground, you can afford to rebuild your home? If so, then you don't need insurance. But for the rest of us in the real world, yes, you are probably going to want to have homeowner's insurance, but if you don't have a mortgage, you are not required to have insurance.
