If you are financing or refinancing your home you will have to show proof of homeowner insurance. Most mortgage companies and banks will only allow certain pre-approved home insurance policies so always check with your lender to ensure that the insurance you are considering will meet their criteria.

Most home owner insurance will cover the house and contents, but it may not include specific high value items you have such as jewelry, computer systems or coin collections or antiques. Consider getting special "floater" insurance that will cover those specific items in your home in the event of a claim.

Be sure that your homeowners policy includes liability. This is very important if someone else gets hurt or injured on your property. Liability insurance is often an area where homeowners choose the lowest possible protection, but this can cost the most if there are long legal issues around the claim.