A: Yes, if you own a home, having home insurance is critical. Aside from smartly protecting a sizeable financial asset and its contents, all lenders require buyers to purchase a homeowners insurance policy. You can read more about your legal obligations for home insurance on our blog, but if you intend to take out a mortgage to buy a home or simply want to cover yourself against a potential loss, you’ll need home insurance. Hippo pushed home insurance into the digital age and made it possible to buy a policy online in less than five minutes.