Answered by Shaykh Muhammad ibn Adam al-Kawthari
House insurance for break-ins, and damage: Is it haram?
Yes, this type of house insurance or goods insurance is unlawful (haram) and should be avoided. All types of prevalent insurances are unlawful, for they have an element of either Riba, chancing or both, as has been explained in detail in many earlier posts. Search the archives on this site.
And Allah knows best,