Sec. 3. As used in this chapter, "homeowner's policy" means a policy that provides:
(1) coverage for:
(A) damage to or the destruction of:
(i) a structure; or
(ii) a unit within a structure;
that is used as a residence by one (1) or more individuals; and
(B) damage to or the loss of personal property that is present in the structure or unit described in clause (A);
caused by perils such as fire, hail, and lightning; and
(2) coverage against the civil liability of the policyholder arising from bodily injury or property damage incurred by others.