Should we cancel the house insurance ?

ask: "Should we cancel the house insurance ?"

My sister and I have joint custody of the house we grew up in back in the 70's and 80's. Our mother still lives there. The house was paid for a long time ago. Other than the obvious reason of having house insurance in case of an emergency or disaster, what other reasons are there to have it? What would happen if we cancelled it? Any legal issues ? We probably won't, but just curious . Thanks !

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