What is the primary purpose of homeowners insurance?

The primary purpose of homeowners insurance is to protect against financial loss from damage to the home and belongings. This type of insurance provides coverage for various risks, including damage from fire, theft, vandalism, and certain natural disasters. It helps homeowners recover financially from significant losses, allowing them to repair or rebuild their homes and replace personal property. By offering this protection, homeowners insurance ensures that families can maintain their living situation and financial stability after unexpected events.

Homeowners insurance does not cover the costs of all home repairs regardless of the circumstances, which is why that option isn't the correct answer. It also doesn’t provide income for homeowners during unemployment, as it is not designed to serve as unemployment assistance. Lastly, homeowners insurance does not offer discounts on home purchases; rather, it serves as a financial safety net for protecting existing investments in property and belongings.