Are there different levels of insurance?
There’s a policy to suit every wallet.
Standard/Good: This form of home insurance (this explanation is based primarily on this type) provides coverage against specific perils on buildings and contents.
Broad/Better: Another type provides “all-risk*” coverage on buildings, and coverage for specific (often called “named”) perils on contents.
Comprehensive/Best: For a somewhat higher premium, you can buy “all-risk” coverage on both buildings and contents.
NOTE: Even though the term “all-risk” is commonly used, there are still some exclusions.