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Basic Homeowners Insurance Policy contains different coverage. One coverage applies to the value of the house itself, excluding the land. A typical coinsurance clause stipulates that a home that was damaged or destroyed can be replaced provided that 80 percent of its actual value is insured. Another coverage provides protection to structures around a property that are not for business use. This coverage is limited at 10 percent of the actual value of the property. Furthermore, homeowners insurance coverage is provided for additional living expenses if you are forced to move out of the house that has been damaged and become unlivable.