In the realm of finance, it is important to understand the concept of homeowners insurance. This type of policy offers protection for not only the house itself, but also the garage and other structures on the property. Additionally, personal possessions like furniture, appliances, and clothing are also covered against various risks such as windstorms, fire, and theft. The level of coverage provided depends on the type of policy, with an all-risk policy being the most comprehensive as it covers all perils except those explicitly excluded.