HOME INSURANCE
I think that today there is no need to explain why it is necessary to insure the most asset of the average household, its real estate. When finalizing the mortgage process, the bank also obliges the future property owner to ensure such insurance, but it is natural for many to protect their home in this way anyway. It is recommended to ensure home insurance for single-family homes, as there is no protection against either elemental or other damages.
In the case of apartment buildings in condominiums, the part of the condominium insurance corresponding to the given apartment is paid in the common cost, but in most cases, this only covers the walls and windows, and a basic liability insurance is included, which protects, for example, the person living below us if their apartment gets wet. Of course, these condominium insurances do not include any chattel insurance and do not protect against almost anything except for basic damage events.