Do You Really Need Property Insurance?

8 April 2026

Many homeowners insure their car and their health but skip insuring their largest asset — their home. Property insurance typically covers damage from fire, natural disasters, theft, and certain structural risks, protecting the substantial equity you've built. For rented-out properties, it also provides peace of mind against tenant-related damage in many policies.

The premium is usually a small fraction of what it would cost to rebuild or repair after a major incident. If you're financing a purchase, some lenders even require proof of property insurance as part of the loan terms. It's worth a 15-minute conversation to understand what a policy would cost for your specific property.