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Why do you need insurance? The short answer is to protect yourself and what you own. You can get insurance for all sorts of things and depending on what you get, it can protect you in a few different ways. One major way is from loss. For example, say someone breaks into your home and steals your TV, all your shoes, and your laptop. It could take a few thousand dollars to replace that all. However, with personal property insurance, you would get money to replace what was stolen. Insurance can also protect you from being liable. If you invite people over for dinner and someone slips on ice on your front step, breaking their ankle, you could be sued. But with personal liability insurance, you would likely be covered. Although insurance would probably cover you for this, we suggest trying to avoid the whole friend getting injured thing by sanding your walkway.