Is it compulsory to have home insurance in Australia?

Is it compulsory to have home insurance in Australia, it is not legally compulsory by federal or state law for outright owners, but it is compulsory if you have mortgage or live in strata, and is effectively essential for all. If you own house with no loan, there is no law requiring building or contents insurance, you can legally have no insurance, but you risk losing $300K to $800K rebuild cost if fire, flood or storm destroys home, plus liability if someone injured on property. If you have home loan, your mortgage contract with bank requires you to have building insurance for full replacement value with bank as interested party, so it is compulsory under contract, and bank can force place insurance or call loan if you do not. For strata title units and apartments, strata law in NSW, VIC, QLD requires body corporate to have building insurance for whole building and $20M public liability, funded by strata levies, so compulsory for strata. For renters, home insurance not compulsory, but landlords often require tenants to have contents insurance for liability. For landlords, building insurance required by lender and recommended. So while not compulsory by statute for freehold house, it is compulsory via mortgage and strata laws, and strongly recommended for all because Australia has high natural disaster risk, and without insurance you bear full loss and may not get government disaster assistance.