Always know and note that when you insure your home make sure that you insure it for the total cost of replacing that will work for you. Once you do get insured it is important to include other additional items such as your personal belongings and to some case insuring against Hurricanes, storms and floods mainly depending in the type of area you live in.
Note that most if not all banking institutions or lending ones require that you insure your house. The reason to this is simply because they want their money should anything happen to your house, they do not care about your personal belongings so you may need an additional insurance for your stuff.
Home Insurance policies are distinctly defined by the Insurance Service Office. These set the standard coverage, but know that although they define the coverage, rates vary from insurer to insurer and that is why it is very advisable to shop for the policies that suite you.
The different types of insurance policies vary from HO-1. This covers your home against 10 perils and although most states do not offer it any more it is a basic policy. The other policies continue from HO-2 right up to HO-8 which is a policy for old homes. You can read and know more on the policies.
Once you begin your Basic home Insurance application process you find that the insurance firm will ask a lot of question right from your current occupation, employment history, credit records, your family members and quite a lot of questions. This they will do in order to see if you can be classified as bad or good risk. Your information will determine your outcome. They will also want to know your past insurance claims.