While a standard homeowners policy helps protect your house, it typically helps cover more than just the physical structure of your home. From your personal belongings to the shed in your backyard, or even medical bills if a guest is injured on your property, a standard homeowners insurance policy may include the following coverages:

Dwelling coverage.
If your home and any attached structures, like a deck or garage, are damaged by a covered peril, dwelling coverage helps pay for repairs. The amount of dwelling coverage you need is usually calculated by the square footage of your house and what it would cost to rebuild your home. This is not necessarily the market value of your home.
Other structures coverage.
The other structures coverage in your policy helps pay for repairs or replacement for detached structures on your property, like a fence or shed, if they are damaged or destroyed by a covered peril.
Personal property coverage.
Personal property coverage helps pay to replace certain belongings, such as furniture and electronics, that are stolen or damaged by a covered loss.
Personal liability coverage.
If you or a family member are found legally responsible for accidentally damaging someone else's property or injuring someone, liability coverage may help pay for related repair costs and legal fees, in addition to helping with medical bills.
Guest medical protection.
If a visitor is accidentally injured at your home, your policy's guest medical protection helps pay for their resulting medical bills.
Additional living expenses coverage.
If you cannot stay in your home after a fire or other covered claim, your homeowners insurance coverage may help pay for temporary living costs, such as hotel bills.