Your home is most likely your most valuable asset. Insurance can protect your financial well-being in case of an unpredictable event such as a burglary, fire, or natural disaster.
Review your policy annually to determine if it still fits your needs. You don't want to be under-insured in the event of a disaster, but you also don't want to pay for more coverage that you need. It's also a good idea to shop around and compare prices from other companies every couple of years.
If you don't own a home, consider renter's insurance. You also want to protect your home inside and out. Depending on your needs, there are also other types of insurance such as flood or vacation property insurance that can protect your assets.