Homeowners' insurance protects homeowners from any act of damage to their property that could depreciate the value of the home. For example, a common hazard that homeowners' insurance will cover is damage to a home due to an Act of God. if a home's roof is damaged in a hailstorm or there is internal damage to a home due to a housefire, the homeowners' insurance will cover the repair or replacement of the property that was damaged. Homeowners' insurance can also cover not just the property or house itself but also items that are contained within the home at the time of damage. For example, if a person's computer or television is damaged in a fire, the homeowner can file a claim to get the item replaced with a new item of similar value.