A Homeowners Insurance policy protects your personal property as an owner or renter. A comprehensive policy will replace your assets in case of fire or other disasters. It also protects you in case someone is injured on your property.
 
The all risk policy covers all claims unless specific exemptions are mentioned.
 
A named-perils policy only covers those perils specifically mentioned in the policy.
 
In short, a Homeowners Insurance policy customized to your needs and concerns will give you great peace of mind.