Homeowners insurance provides protection and coverage against damages to property. The Declarations page lists specific coverage of the insurance policy. Coverage ranges from basic policies (the least expensive) to comprehensive policies (the most expensive). Knowing the specifics of a policy can eliminate surprises in the event that a homeowner needs to file a claim.

The number of perils (events that cause damage to property) that are covered categorizes policies. According to the National Association of Insurance Commissioners, most policies cover fire, lightning, wind, hail, explosions, riots, aircraft, vehicles, smoke, vandalism, theft and glass breakage. Broader coverage is available, but through more expensive policies.

Even though it may appear that a policy has everything covered, a few disastrous situations are not covered. Floods, earthquakes and maintenance issues such as mold or termites are excluded from all homeowners’ policies. In addition, landslides, mudslides, sinkholes, war and nuclear accidents are typically not covered. Add-ons or separate policies may be available for these situations at an additional cost.

A homeowner must buy a separate policy in order to be covered against a flood. Depending on a person's location, a homeowner may be able to get flood insurance through the National Flood Insurance Program or through a private carrier. These policies are extremely important for houses in hurricane-prone areas or houses that exist in a flood plain. A homeowner must also buy a separate policy for earthquake coverage. Earthquake coverage is available in all 50 states. California residents are eligible for coverage through the California Earthquake Authority. A Consumer's Guide to Home Insurance by the National Association of Insurance Commissioners provides additional information and contact information for each state government's insurance commission.