Yes!  They are vital to your financial protection.  Recently, I was conducting a review for a client who owned some land.  Owning land is great.  But, this land was not on his liability insurance policy.  Suppose someone walks across the land and falls  down, and brings a  suit against the land owner.  Could the injured party win?  Who knows.  But, the owner would need to pay his own attorney at a rate of $250.00 an hour to defend himself.  How much did it cost to add the land?  No cost.  It just had to be listed on the liability policy.  There are numerous examples like this.  Next time you need insurance think twice about a good solid review versus one of the cheap internet wholesalers, or toll free numbers.