Updated August 30, 2023 23:50 Do I need homeowners insurance? Homeowners insurance can help protect your home from unexpected circumstances like fire or theft. If you’re buying a new home, many lenders require it. Either way, knowing your home insurance options is a smart financial decision. Related articles Do you negotiate on the price of Opendoor-owned homes? What steps do I need to do before closing with Opendoor? What happens if my client asks Opendoor for an offer directly? Can I stay in my home after my close date? How long does the home buying process take?