What Does A Basic Homeowners Insurance Cover? 
In most modern Homeowners ' policies , which are sometimes referred to as an `` HO-5 '' form , your home is covered on an `` open peril '' basis . This means that instead of specifically naming what the policy covers , it lists specific coverage exclusions . Some of these would include Earth Movement and Flood for example . Talk to your Insurance Professional about the specific terms and conditions of your policy . 