Your primary reason to buy homeowners insurance is to protect your bank account from costly damage costs that might impact your house or other assets. Consider some of the accidents that might occur:
A severe windstorm, hail or a fire might damage the home's structure
Someone might break into your home, cause property damage and steal belongings
A car might collide with the house
Pipes might burst and flood the home
Your neighbor might get hurt on your property, and then sue you to cover their medical costs
If you have the right homeowners coverage, you can file against your policy for compensation for such losses. Therefore, you can feel secure knowing that your wallet will have help in case problems arise.