TAMPA, Fla. (WFLA) — Most homeowners with a mortgage are required to have some sort of homeowner’s insurance. But what happens when you pay off your home? Many are questioning whether it’s worth the risk to save money by not buying insurance.
Hurricane Milton ripped off Mike Parrot’s Bradenton roof. The home was officially condemned, and he and his wife lived in his backyard studio while they pieced the home back together. Complicating matters, they had no homeowner’s insurance.
“We just paid everything off about two months prior to this,” Parrot said. “So I did not have insurance on this.”…