Yes, you really
do. "Not only will a good policy
save you money in the event that something happens to your home or belongings,
an insurance company can also help you with other matters, like making your
home more resistant to natural disasters. And though having homeowners
insurance isn't required by law, mostmortgage
lenders require you to have homeowners
insurance in order to borrow money from them. If you live in acondominium
may also be required by your tenants' association to have homeowners insurance.
Even if you have a relatively new, well maintainedhouse
homeowners insurance can help you in situations that may not be preventable.
Say, for example, that you are having a dinner party at your house. A group of
guests is gathered on the back patio, and one of the guests trips on a loose
tile and breaks his ankle. You, as the homeowner, are potentially liable for
the guest's injury. The right homeowners insurance policy should protect you
against legal action and pay for the injured man's medical bills." From http://home.howstuffworks.com/real-estate/homeowners-insurance1.htm