You buy home insurance because it can protect your property, family and financial assets from the results of numerous hazards and other liabilities.
Coverage that most homeowners need includes:
Dwelling Insurance
Other Structures Coverage
Contents Insurance
Loss of Use Insurance/Living Expenses Coverage
Liability Coverage
There are countless other benefits available, such as scheduled personal property riders, pet liability insurance and identity theft insurance. Policies can be tailored to cover high-value homes, rental properties, condominiums, mobile homes and more.
If you finance your home, then you might have to buy homeowners insurance as required by your lender. Still, regardless of requirement, this is an important benefit to always carry.