My husband and I are 30 years old, have stable jobs, and earn roughly the same salary. We are buying our first house, with a 35% down payment. The monthly mortgage works out to ~15% of our combined in-hand monthly incomes (after paying taxes and pension funds). Based on our current rate of savings, we expect to pay it off in 12-15 years. We do not have kids yet, but plan to, in the near future.
We also have some disability coverage, good health insurance, and no other debt. We plan to get fire insurance on the house itself (not contents).
My question is, do we need additional disability and life insurance linked to our mortgage? What about insurance on damage to the contents of the house against theft/accidents? Is there any statistical data that can help us decide? Our current assumption is that each of our salaries is independently enough to make the monthly mortgage payments, and also replace most of the house contents, so we do not need additional insurance. Or, are the premiums worth it?