Is insurance just for the loan?

[Ken Virzi]

So my natural bent would be to go as cheap as possible to simply satisfy the loan requirements. I guess I am a skeptic that thinks between the deductible and the claim fighting that I won't ever get any benefit from the insurance itself. Instead I tend to focus on my CapEx reserves and savings. Am I missing something here? I am just now moving beyond one property in California to a duplex in Ohio. Looking for insurance right now and just want to make sure I am not missing something. Thanks.