Homeowners really is a better deal, but make sure you read the fine print carefully. You may need an additional rider for pipe breakage. I know a few people around here that have sunken dens, and the rule is, if the room is more than 4 inches lower than the main slab, it's considered a basement, and not covered. When a New Orlenian sees the word basement, we just skip right over it, as no one in their right mind would build an actual basement down here.