Top 6 tips on getting the right homeowner's insurance coverage.

In the market for home insurance, or considering switching your home coverage to another provider? Here's six great tips to make sure you are asking for the right amount of coverage. Too much will cost you in policy payments, and too little may cost you later if you need to make a claim.

1. Insure your home and NOT the land it is sitting on. After a disaster, the land is undamaged. If you don't subtract the value of that land when deciding how much coverage you need, you'll pay too much.
2. Don't wait until you have a claim to find out if you have the right coverage and type of home insurance.
3. Purchase enough coverage to replace the covered items. "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy is less expensive but pays only what your property is worth at the time of loss...your cost minus depreciation for age, wear, and tear.
4. Ask about special coverage if you need it..You may have to pay extra for computers, cameras, jewelry, antiques, art, collector's items, etc.
5. Earthquake and flood damage are not covered by a standard homeowners policy. The cost of a separate earthquake policy will depend on the likelihood of earthquakes in your area. If you live an area that is prone to floods, take advantage of the U.S. National Flood Insurance Program.
6. If you are a renter, don't count on your landlord to carry insurance. Cover your personal belongings with your own policy. Inexpensive policies are available for renters.