Homeowners Insurance coverage offers protection against specified perils for your house and personal property, including any garages, sheds or other structures which you may have. Homeowners Insurance is usually offered as a package policy inclusive of personal property (personal belongings) and personal liability coverage. It is important to understand what homeowners insurance covers and the level of protection it offers before determining the best homeowners insurance coverage to purchase.  Home Insurance consists of quite a few variations but a standard homeowners insurance policy provides sufficient limits of coverage to rebuild the dwelling in the event of a total loss and provides for the replacement of your personal property in the event of a loss caused by a covered peril; for example: fire, theft, wind and other perils that are usually covered by the standard policy; exclusions like earthquake and flood protection may require the purchase of an additional policy. Personal and Family Liability coverage is a component of the Homeowners Insurance package policy offering legal defense and liability protection for cases of negligence brought against the insured and resident family members; due to variations of coverage, the specific policy contract must be reviewed to confirm coverage. If you have a mortgage on your house, homeowners insurance is a contractual requirement in order to protect the home and a copy of the policy will be automatically forwarded to all listed mortgagees.