No, Florida homeowners are not legally required to have homeowners insurance. However, if you have a mortgage, your lender will likely require you to maintain a homeowners insurance policy to protect their investment in the property. This requirement is typically part of the mortgage agreement.
Even if it's not required by law or a lender, homeowners insurance is highly recommended. Florida is prone to natural disasters like hurricanes, floods, and sinkholes, which can cause significant damage. Without insurance, homeowners would have to bear the financial burden of repairs or rebuilding on their own.
For flood insurance, it's worth noting that standard homeowners insurance does not cover flood damage. If you live in a designated high-risk flood zone, federal law may require you to purchase separate flood insurance, particularly if your mortgage is through a federally regulated or insured lender.
