There are eight different types of homeowners insurance. The first is a very basic coverage for lighteing or fire. The second type is a more broad coverage and includes vandelism, smoke damage, frozen pipes and falling objects. Third is coverage for detached structures. The next policy is a tenant policy for people who are renting a property and want to cover their belongings. Then there is condominium insurance that covers the interior of your unit and the things not covered by the policy purchased by the association. Lastly, there is an older home policy. Often older homes will not qualify for a replacement policy so this will allow the house to be rebuilt using current materials and processes. In addition there is flood insurance which is not considered a homeowners policy but is wise to purchase. If you live in areas that are hit by hurricanes then wind insurance is a wise investment as well.