Some homeowners are under the wrong impression when they go online to get a quote for their homeowner’s insurance policy, the process is more involved than buying a car, yet very few prepare for it. To get the best rates you will need to know certain details about your property, the type of protection you want and be prepared to participant in managing your safety and risk factors.

For many people the world of insurance is a mystery; the terms and the legal aspects of the process of buying home insurance itself are confusing. Although the Internet provides a wealth of information, that itself becomes frustrating because there is too much information to process in addition to a high level of mis-information.

There are many sources that state that the first place to start shopping for home insurance is with a quote when in reality the starting point is with an understanding of the information you need to provide to get the quote as well as how this information affects the quote you receive. With the quote in hand you can look at the individual companies and see what can be done to bring the rate you will pay to the most reasonable possible. This usually means that you will interact with an insurance agent by telephone or in person to work out the details and ask the questions that were not answered by the “frequently asked questions’ (FAQ) section of the company website.

When you are completely satisfied with the company and the protection plan they are offering you can return to the company website and submit your application online which will save you even more money or let the insurance agent do the work and earn a fee.

The main advantage of buying anything online is the convenience factor; you can buy home insurance online at 3:45 am sitting in your pajamas or at 2:00pm on your coffee break at the office.

1. Which insurance policy is best for the type of protection I want?

Home insurance in the United States is available in eight categories to provide protection from the minimum level to the most complete. These home insurance policies can be customized to cover everything in relationship to your home as well as all of your possessions. There are home insurance policies for every type of dwelling; mobile homes and condos, as well as insurance for renters.

2. What is NOT protected by the home insurance policy I purchase?

Every home insurance policy has limitations and exclusions, starting with damage due to flooding. “Overflow water damage’ is not the same as flooding and homeowners who want to be protected in the event of flooding must purchase a separate policy.

3. Is my home insurance policy written to provide “replacement cost’ or “guaranteed replacement cost?’

Homeowners need to be very careful to understand that there is a significant difference in these two terms. Having home insurance with a guaranteed replacement cost for your items is much better than just replacement cost.

4. Are there any limits on my expensive possessions such as furs, jewelry or computer equipment?

Insurance companies classify personal property in different categories, for expensive items to be fully protected additional coverage may need to be purchased.

5. What is the minimum and maximum amount of deductible I can carry and how much money will I save by choosing a higher deductible?

The amount of deductible for home insurance is usually between $100 and $2,000. By carrying a deductible on your home insurance you can lower your premiums. Another reason to carry a higher deductible is to be able to handle minor repairs to your home without filing a claim.

6. What are the features that will give me a discounted rate on my home insurance?

Most home insurance companies provide discounts to homeowners who install additional safety features such as smoke detectors, fire extinguishers, deadbolt door locks and burglar alarms. One way to find out the entire list of things you can do to receive a discounted rate is to check the company’s home insurance guide for improving safety.

You may expect that expensive personal property such as furs, diamond jewelry or sophisticated electronic equipment would be included in a home insurance rider. But there are other items that also would qualify for this type of coverage such as:

Your Home Office: If you work from home, you will want to protect the equipment you use, but you should also discuss whether you need separate liability coverage with your insurance agent. If your business requires clients to visit your office you risk liability exposure if a client is injured; your standard homeowner policy may not cover their injuries and loss.

If your home business involves product inventory, a home insurance rider will protect the replacement of these products, office supplies and raw materials used to produce your goods that you keep on the premises for use in your business.

Fine Art or Antiques: A home insurance rider will increase the protection of your personal possessions including your fine art or antique furniture. You may be surprised at the cost of this additional insurance for fine art; $1 in fees provides you with $400 of insurance coverage for fine art pieces.

Oriental Carpets: Many homeowners do not realize that expensive Oriental carpets need to be insured under a separate rider. But without this coverage if your Oriental carpet is damaged as a result of a water pipe that breaks, you may not qualify for reimbursement or the amount you receive may be limited.

An Older Home: Many people invest in older homes to preserve a piece of history without realizing that their home insurance coverage may not sufficient to pay for rebuilding it to meet the current building codes.

Rebuilding an older home after a disaster can include the need to lay a new foundation or to install safety features that were not invented during the time the original home was built. Homeowners who want to be sure that they will have sufficient coverage should invest in a rider to provide building code coverage and the other provisions that you may need to protect your investment.