 KFXZ 15 News. I'm Michelle Southern. If you don't have a mortgage and you fully own your home, you might not have to carry homeowner's insurance, but that's not a good idea. More people are taking this route because rates are ridiculously high. CEO of the Independent Insurance Agents of Louisiana, Ben Albright, says in this state, you need insurance. If you cannot afford to rebuild your home, you should insure your home. That is what insurance is there for.