Is house insurance mandatory in Australia?

Is house insurance mandatory in Australia, no it is not legally mandatory by law, but it is effectively mandatory if you have mortgage, as lenders require building insurance. Australian law does not require homeowners to have home building insurance, unlike car CTP which is mandatory, so if you own house outright with no mortgage, you can legally not have house insurance, but it is highly risky. However, if you have mortgage with bank like Commonwealth, NAB, ANZ, Westpac, lender requires building insurance for sum insured at least equal to loan or rebuild cost $500K, with bank noted as interested party, and you must provide certificate of currency, otherwise loan defaults. For strata units, building insurance is mandatory via strata corporation, included in levies $500 to $800 per year, covering building. For renters, contents insurance not mandatory but recommended, some rental agreements require $20M public liability via contents insurance. For bushfire and flood prone areas, some councils require insurance for development approval. So house insurance not mandatory by law, but mandatory by mortgage lender, and for strata building insurance mandatory via levies, so most homeowners have it. Without house insurance, if fire destroys $500K house, you bear full loss $500K plus demolition $20K, with no government assistance beyond $1K emergency payment, so highly recommended despite not legally mandatory.