Do you think you will be able to acquire a home mortgage without having a solid bomeowners insurance policy in place? If so then you will be in for a rude awakening. No sensible lender is going to agree to your taking out a mortgage if you do not have a homeowners insurance policy that is agreeable to the lender.
Do not think that you can cancel the policy either. You may not be required to take out such a policy per the law, but you will discover that the mortgage lender makes acquiring such a policy mandatory as per the agreement of the mortgage. Hence, the cost of the homeowners insurance could even be weaved into the actual mortgage loan itself. To cancel a policy could put you in violation of the terms of the mortgage and this will lead you to being in serious hot water with the actual lender. (Read http://www.homeownersinsurancegeek.com/ to learn more about those common overlooked issues insurance purchasers face.
While no one likes to pay bills, there comes a time to realize that certain bills are a must when your goal is to protect yourself financially from serious and dire fiscal calamities. One such bill would be to pay monthly homeowners insurance premiums. Again, paying such a bill should be expected as a means of being highly responsible in terms of protecting one’s own personal assets. If a person is injured on your property or serious damage does befall the home as a result of a natural disaster, they you do not want to be wiped out financially. A quality homeowners insurance policy will offer at least some level of protection to you. Would you want to see all your assets be wiped out? No, you would not and the best way to avoid this from ever happening would be to first avoid presenting any serious or egregious liabilities that would otherwise present problems that would increase the likelihood of an accident occurring.
There ways, however, where it might be possible for someone to cut down on the costs associated with a homeowners insurance policy. One way would be to eliminate certain components of the policy. For example, there are such things as loss of use insurance which would cover stays in an apartment while repairs are being down to the home. There could be an elimination of any coverage related to the loss of any belongings in the home.
Be forewarned though. When you are eliminating aspects of your homeowners insurance, you will end up having to deal with the financial losses associated with any accidents that might arise. Insurance is designed to be able to help protect your assets. When you cut down on the amount of insurance you have, you might end up having to absorb the costs associated with whatever losses you incur from an accident that occurs.