Well, both your home as well as the contents in your home are financially protected by the policy and you’ll be reimbursed for any costs incurred when paying for repairs or replacements. Home Insurance also covers scenarios where, for example, you have accidentally damaged a third-party individual’s property, or a visitor suffers an injury while at your home. There are also other benefits and policies can also cover for loss of rent, grant an emergency cash allowance, as well as facilitate emergency repairs for pest control, plumbing, losing your keys and needing to call a locksmith, etc.