Your home is typically the largest investment you’ll ever make. For mortgaged homes, your lender will typically require insurance coverage on the home, including flood insurance if your property is located in a flood zone. Normally, your policy will provide coverage for the structure itself, other structures such as fences and storage sheds, the contents of your home, and ALE (Additional Living Expenses). Property coverage helps pay for damage caused by unforeseen perils to your home while ALE will pay for some extra expenses should you be displaced from your home while it is being repaired.