Home Insurance This provides coverage against property and liability perils facing homeowners. The typical homeowners insurance policy covers the structures on the property, as well as furniture, appliances and clothing, against a wide variety of perils such as windstorms, fire and theft. The extent of the perils covered depends on the type of policy. An all-risk policy offers the broadest coverage. All perils except those specifically excluded in the policy are covered.A provision known as Loss of Use, also covers additional living expenses if the house is being restored after a disaster.The liability portion of the policy covers the homeowner for accidental injuries caused to third parties and/or their property.Coverage for flood and earthquake damage is excluded and must be purchased separately.