Coverage amount

• Your agent will help you determine the value of your home and the maximum coverage needed by reviewing your personal property tax evaluation and how much similar homes are selling for in your neighborhood. You may wish to purchase additional inland marine coverage for items of high value in your home, such as antiques, paintings or jewelry.
  
  

Deductible

• A homeowner policy carries a deductible that you are responsible for in the event you file a claim. A deductible can range from $100 to $1,000 or more, and your premiums will most likely be higher if you choose a lower deductible.
  
  

ACV or RCV

• Your policy may be set up to replace or repair your home or contents at their actual cash value with depreciation amounts deducted or their replacement value-the cost to replace items at the time of the loss without depreciating their value.
  
  

Additional coverages

• Other coverages you may want to consider that are purchased separately at an additional premium may include damage due to earthquakes, flood, mine subsidence collapse due to the earth giving way beneath your foundation, backup of sewers and drain-water backed up into your house after a sump pump has failed or after a heavy rainstorm.
  
  

Quotes

• Shop around for the best value before committing to a particular insurance company. Receive quotes from at least two different carriers and ask your friends or neighbors for referrals. Some factors you will need to consider are whether you are just looking for the cheapest rates or whether customer service is more important to you.
  
  

Discounts

• According to insureuonline.org, you may be eligible for discounts if you have an electronic security system installed, if you have recently replaced your roof or if you have your auto insurance with the same carrier. Don't be shy about asking which discounts you may qualify for. After all, it is your money.
  
  

Considerations

• Be aware that if you run a business out of your home, a standard homeowner's policy may not be appropriate and claims may not be paid if a business is unreported and later discovered during the claims investigation process.