Homeowners insurance provides coverage for your home and compensates you if you have a loss. If your home is robbed or totally destroyed by a cause that is covered in the policy the insurance will help you replace your possessions and repair your home. The Homeowners policy covers much more than just your home. It also covers other structures on your property (barn, shed, fence), your belongings (furniture, clothes, electronics), temporary living expenses during home repairs, and coverage to protect you as the owner of the home in the event that someone is injured on your property or it is determined that you were responsible for personal injury through negligence. The amount of money you would receive depends on the deductibles and limits set for your policy.