You need to have Hazard Insurance in place before you can close your loan. You can place it with your insurance provider you have with your automobile policy, or another preferred insurance professional. I can highly recommend Stay Lin with Farmers Insurance. I have had such joy and a great experience in working with Stacy for my personal insurance needs. Service above and beyond that you will be blessed to have working with Stacy. She is very knowledgeable.
If you are paying cash for the property you are investing in, it is not required, but why buy anything that you do not protect when real estate is such a huge investment of your resources and usully the largest purchases that you will ever make. I highly recommend Hazard Insurance on your real estate purchases
See what Stacy has to say about her services and what she can provide for you..