Homeowner’s insurance is a type of insurance that can cover many aspects of a person’s home and their private property.  Depending on the kind of coverage you wish to choose, there are seven basic types of homeowner’s insurance (the first four being the more common policies) that cover everything from personal belongings due to theft to complete destruction of homes resulting from natural disasters.  Here's a brief explanation of the various options that are available.

HO-1
This is also known as basic home insurance.  It is very limited and the covered items are stated in the policy.  HO-1 is the least common policy and covers items due to things like fire, and robbery.
HO-2
HO-2, also known as broad home insurance, is similar to HO-1 but has a little more coverage (and is a little pricier) including damages resulting from falling objects and ice.
HO-3
An HO-3, standard homeowner’s insurance, is the most common policy.  Under an HO-3 insurance plan, damages from most natural causes with the exception of earthquakes and floods are covered.  This is a very thorough policy; depending on the exact specifications, it can even cover liabilities of people who may become injured on your property.
HO-4
This is also known as renter’s insurance.  Renter’s insurance includes many things like liability coverage for people harmed or injured on or around the property, robbery, and hail.
HO-5
The HO-5 policy is known as the extensive homeowner’s insurance and is very similar to HO-3 except it is more thorough and covers a wider range of losses.
HO-6
HO-6 is a policy for condominium owners.  These differ from other policies because the land is shared amongst other condo owners.  Actually, it is the land owner’s association that covers the shared property; this usually includes the condo’s structure.  This policy includes liability insurance for those in and around the property as well as damages from fire and water, and valuables lost to theft.
HO-8
This type of policy is for older homes.  Since most of these homes cost more to fix than they are worth, this coverage allows homeowners to repair the damages at the lower value.