A typical homeowners insurance policy helps protect your home's structure and other structures on your property, such as a shed or a fence, against certain perils. Coverage generally extends to your personal property, too, helping provide protection against covered losses such as a fire or theft.

You'll likely find that your policy also offers family liability protection, which can help cover expenses if, for example, you're sued after someone is injured on your property.

Your insurance provider can help you understand your policy's specific coverages (and their limits). Your insurance provider can also help you decide if additional coverages, such as scheduled personal property for your valuables or a personal umbrella policy to provide greater liability protection, make sense for you.

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