As its name suggest, the Houseowners policy is designed to protect private dwelling premises and with this in mind the coverage is equal to that in the Fire Insurance plus additional cover like the under mentioned:

Damage to the building caused by theft or attempted theft Liability to the public in respect of accidents caused by a defect in the buildings Loss of rent (without additional premium whereas this cover is chargeable under the Fire Insurance)

As for the important comparison on pricing, the cover in the Houseowners Insurance package is rated much cheaper when compared to the same perils in the Fire Insurance (at 0.106% against 0.187% for a detached or attached house of class 1A construction).