**This is a Guest Post by Genworth Financial in partnership with SheHeard.  All writings and opinions are my own.  Please see my Disclosure statement for more information.**

For years I carried home insurance on my home. You can get it past the first year of your mortgage where it is generally included as a seller’s provision. It’s not terribly expensive and it can help sway costs on a home that is older. Mine is 30 years old and I have needed it every year. So as soon as I can swing it again, I will be getting it back.

But what about Mortgage Insurance?  Do I still need that?

I have been researching my go-to financial advice site, Genworth Financial, to learn more about the necessity of mortgage insurance.

Basically, most lenders require that you carry mortgage insurance. Especially if you put less than 20% down on the house. But sometimes, even if you did not, you can go back later, after establishing a pattern of payments, and have it removed.

The insurance protects the bank against default on the loan. Banks want that insurance, especially now. But if you have consistently paid your mortgage and never been late then you might have a good case to have it taken away.

Check out this article on the Three Types of Insurance Plans You Should Have and you will see that  mortgage insurance is not a necessity.

If you have a home mortgage that includes a payment for mortgage insurance and you have been paying faithfully on your mortgage for years, proving your reliability- especially if they auto draw it from your account – take a few minutes to call your mortgage company.  My mortgage insurance is $125 a month!  I can’t wait to have that back into my disposable income column and not in my expenses!