1. Comprehensive form: This is the highest tier of home insurance and the most common of the three. Comprehensive (also referred to as "all risk") coverage covers your home and belongings from all loss, with the exception of some exclusions which will be directly listed on your policy.
2. Broad form: This is the mid-tier level of home insurance which provides more extensive coverage on bigger items such as the building itself and will provide basic coverage on other items that are specified on your policy.
3. Basic form: This is the simplest level of insurance coverage offered, in which only certain items listed on your policy are covered and is usually suitable for those with seasonal cottages or camps. This option is cheaper than the two listed above; however, you do carry more financial risk should anything happen to your home.