Your house is more than a roof over your head.
It is important that you are well protected with a homeowners insurance.
A typical homeowners insurance will protect you against damages caused by explosion, earthquake, flooding, fire, riot/ malicious damage, and foreign object. The yearly cost is 0.37% of the reconstruction value.
The reconstruction value is the present value to rebuild your home from the ground up. (It does not include the value of the land).
It is important that a reliable value be given to the insurance company.