What Does A Basic Homeowners Insurance Cover? 
A basic homeowners policy which I think you are referring to a owner occupied dwelling which is a HO3 . This policy covers the replacement cost of the dwelling . It also covers other structures on the premises . It also covers loss of use . Just in case you were to live in hotel while your home in being repaired after a loss . It also covers medical payment . It also covers liability just in case some one is injured on your premises . It also covers your content . Content may be covered as scheduled or unscheduled 