HomeHome insurance covers your house and personal property against all kinds of possible damages such as natural disasters, robbery, fire, and flood. Though most states do not require you to purchase home insurance, it is wise to purchase it so that you won’t suffer from serious financial loss in the event of an accident. If your home is mortgaged, the lender will require you to purchase home insurance as a form of coverage. Home insurance typically offer coverage for liability and property damages.
Source: Home Insurance