A homeowners insurance policy is not required by law. However, if you borrow money to buy a home, your lenders will most likely require you to buy a homeowners insurance policy in order for you to qualify for a home loan. In this case, your home is collateral and the lender wants the collateral maintained. The lender requires insurance so you can afford repairs if the home suffers an insurable loss. At a minimum, your lender will want your policy to cover or exceed the amount that you owe on the loan. Most homeowners, however, want enough coverage to repair or replace the home. Alliances Insurance Agency, LLC can help you find the homeowners insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service, and fair pricing.