This is a must have. It's literally like $150 a year per $15k of coverage. I'm told that it's basically a no questions asked payout if your place is ever burned down, flooded, robbed, ect. ie, you don't need to itemize your stuff.
Also you can put specific things on there like your wife's rings, so when she loses them they'll just payout. It can even be from her own natural women's stupidity, doesn't have to be stolen.
More worthwhile than auto insurance imo. Especially if you live in a big complex, and some other asshole might leave a candle on or overflow his bathtub.