Home insurance plans are one of the best ways to protect our homes from fires, floods, and break-ins. While these events are unfortunately quite common, it is their potential for severe financial consequences that make them threats that should be taken seriously. In this article we will discuss home insurance and its importance, how home insurance plans work, and what some of the best home insurance plans have to offer. Why is Home Insurance Important? Home insurance is important because it provides a financial safety buffer should your home and its contents suffer serious damage or destruction.. Events such as a home fire, explosion or water leakage from burst pipes can wreck enough havoc to severely curtail the ability of your property to serve your needs — or even render it downright uninhabitable....